The Econometricians (eBook)

Colin Read is a Professor of Economics and Finance, former Dean of the School of Business and Economics at The State University of New York at Plattsburgh (SUNY), USA, and a columnist for the Plattsburgh New York Press Republican newspaper. He has a PhD in economics, a Juris Doctor (JD) degree in law, a Masters of Business Administration (MBA), a master's degree in taxation, and has taught environmental and energy economics and finance for 25 years. Colin’s recent books include BP and the Macondo Spill: The Complete Story, The Fear Factor, Global Financial Meltdown: How We Can Avoid the Next Economic Crisis, The Rise and Fall of an Economic Empire: With Lessons for Aspiring Nations, Great Minds in Finance: The Life Cyclists, Great Minds in Finance: The Portfolio Theorists, Great Minds in Finance: The Efficient Market Hypothesists, Great Minds in Finance: The Rise of the Quants, Great Minds in Finance: The Corporate Financiers, and Great Minds in Finance: The Public Financiers.

Preamble 6
Preface to the Great Minds in Finance Series 10
Contents 15
About the Author 18
List of Figures 19
Part 1: Mathematicians and Astronomers 20
1: The Early Life of Carl Friedrich Gauss 21
The Arrival of Carl Gauss 24
2: The Times of Carl Friedrich Gauss 29
The Creation of Complex Numbers 35
Notes 49
3: Carl Gauss’ Great Idea 50
The Normal Distribution 63
Notes 73
4: The Later Years and Legacy of Carl Friedrich Gauss 74
Note 81
Part 2: From Least Squares to Eugenics 82
5: The Early Life of Francis Galton 84
The Arrival of Francis Galton 88
6: The Times of Francis Galton 91
Note 96
7: The Later Life and Legacy of Sir Francis Galton 97
8: The Early Life of Karl Pearson 99
The Arrival of Carl Pearson 100
9: Karl Pearson’s Great Idea 104
Note 112
10: The Later Life and Legacy of Karl Pearson 113
Note 121
Part 3: The Formation of Modern Statistics 122
11: The Early Life of Ronald Aylmer Fisher 123
The Arrival of Ronald Fisher 126
Note 132
12: The Times of Ronald Aylmer Fisher 133
Notes 140
13: Ronald Fisher’s Great Idea 141
The Method of Least Squares 145
Notes 149
14: Later Life and Legacy of Ronald Fisher 150
Notes 159
15: The Early Life of Harold Hotelling 160
The Arrival of Harold Hotelling 166
Note 169
16: The Times of Harold Hotelling 170
Notes 174
17: Harold Hotelling’s Great Idea 175
18: The Later Life and Legacy of Harold Hotelling 180
Notes 182
Part 4: The Birth of a Commission and Econometrics 183
19: The Early Life of Alfred Cowles III 184
The Arrival of Alfred Cowles III 192
20: The Times of Alfred Cowles III 194
21: The Great Idea of Alfred Cowles III 197
Note 204
22: Legacy and Later Life of Alfred Cowles III 205
Notes 206
23: The Early Life of Ragnar Frisch 207
The Arrival of Ragnar Frisch 209
24: The Times of Ragnar Frisch 211
Notes 216
25: Ragnar Frisch’s Great Idea 217
Notes 223
26: Legacy and Later Life of Ragnar Frisch 224
27: The Early Years of Trygve Haavelmo 228
The Arrival of Trygve Haavelmo 230
28: The Times of Trygve Haavelmo 232
Note 235
29: Haavelmo’s Great Idea 236
Notes 243
30: Legacy and Later Life of Trygve Haavelmo 245
Notes 247
Part 5: What We Have Learned 248
31: Conclusions 249
Glossary 252
Index 257