Arnold Zellner
Encyclopedia
Arnold Zellner was an American economist
and statistician
specializing in the fields of Bayesian probability
and econometrics
. Zellner contributed pioneering work in the field of Bayesian analysis and econometric model
ing.
In Bayesian analysis, Zellner not only provided many applications of it but also a new information-theoretic
derivation of rules that are 100% efficient information processing rules --- this class includes Bayes's theorem. In econometric modeling, he, in association with Franz Palm, developed the structural time-series approach for constructing new models and for checking the adequacy of old models. In addition, he has been involved in many important applied econometric and statistical studies.
Zellner earned his A.B.
in physics
from Harvard University
in 1949 and his Ph.D.
in economics
from the University of California, Berkeley
in 1957. He holds honorary degrees from the Autonomous University of Madrid
in Spain, the Universidade Técnica de Lisboa in Portugal
, the University of Kiel
in Germany
, and the Erasmus School of Economics at Erasmus University Rotterdam in the Netherlands
.
He was H.G.B. Alexander Distinguished Service Professor Emeritus of Economics and Statistics at the Graduate School of Business of the University of Chicago
. He was the founder of the International Society for Bayesian Analysis
and also served as President of the American Statistical Association
in 1991.
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
and statistician
Statistician
A statistician is someone who works with theoretical or applied statistics. The profession exists in both the private and public sectors. The core of that work is to measure, interpret, and describe the world and human activity patterns within it...
specializing in the fields of Bayesian probability
Bayesian probability
Bayesian probability is one of the different interpretations of the concept of probability and belongs to the category of evidential probabilities. The Bayesian interpretation of probability can be seen as an extension of logic that enables reasoning with propositions, whose truth or falsity is...
and econometrics
Econometrics
Econometrics has been defined as "the application of mathematics and statistical methods to economic data" and described as the branch of economics "that aims to give empirical content to economic relations." More precisely, it is "the quantitative analysis of actual economic phenomena based on...
. Zellner contributed pioneering work in the field of Bayesian analysis and econometric model
Econometric model
Econometric models are statistical models used in econometrics. An econometric model specifies the statistical relationship that is believed to hold between the various economic quantities pertaining to a particular economic phenomenon under study...
ing.
In Bayesian analysis, Zellner not only provided many applications of it but also a new information-theoretic
Information theory
Information theory is a branch of applied mathematics and electrical engineering involving the quantification of information. Information theory was developed by Claude E. Shannon to find fundamental limits on signal processing operations such as compressing data and on reliably storing and...
derivation of rules that are 100% efficient information processing rules --- this class includes Bayes's theorem. In econometric modeling, he, in association with Franz Palm, developed the structural time-series approach for constructing new models and for checking the adequacy of old models. In addition, he has been involved in many important applied econometric and statistical studies.
Zellner earned his A.B.
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
in physics
Physics
Physics is a natural science that involves the study of matter and its motion through spacetime, along with related concepts such as energy and force. More broadly, it is the general analysis of nature, conducted in order to understand how the universe behaves.Physics is one of the oldest academic...
from Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
in 1949 and his Ph.D.
Ph.D.
A Ph.D. is a Doctor of Philosophy, an academic degree.Ph.D. may also refer to:* Ph.D. , a 1980s British group*Piled Higher and Deeper, a web comic strip*PhD: Phantasy Degree, a Korean comic series* PhD Docbook renderer, an XML renderer...
in economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
from the University of California, Berkeley
University of California, Berkeley
The University of California, Berkeley , is a teaching and research university established in 1868 and located in Berkeley, California, USA...
in 1957. He holds honorary degrees from the Autonomous University of Madrid
Autonomous University of Madrid
The Autonomous University of Madrid is one of the top university of Spain and commonly known by its Spanish initials UAM or as "la Autónoma"...
in Spain, the Universidade Técnica de Lisboa in Portugal
Portugal
Portugal , officially the Portuguese Republic is a country situated in southwestern Europe on the Iberian Peninsula. Portugal is the westernmost country of Europe, and is bordered by the Atlantic Ocean to the West and South and by Spain to the North and East. The Atlantic archipelagos of the...
, the University of Kiel
University of Kiel
The University of Kiel is a university in the city of Kiel, Germany. It was founded in 1665 as the Academia Holsatorum Chiloniensis by Christian Albert, Duke of Holstein-Gottorp and has approximately 23,000 students today...
in Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, and the Erasmus School of Economics at Erasmus University Rotterdam in the Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
.
He was H.G.B. Alexander Distinguished Service Professor Emeritus of Economics and Statistics at the Graduate School of Business of the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
. He was the founder of the International Society for Bayesian Analysis
International Society for Bayesian Analysis
The International Society for Bayesian Analysis is a society with the goal of promoting Bayesian analysis for solving problems in the sciences and government. It was founded by economist Arnold Zellner in 1992. It publishes the Journal of Bayesian Analysis....
and also served as President of the American Statistical Association
American Statistical Association
The American Statistical Association , is the main professional US organization for statisticians and related professions. It was founded in Boston, Massachusetts on November 27, 1839, and is the second oldest, continuously operating professional society in the United States...
in 1991.