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Steinar EKERN

Steinar EKERN, economist in the field of Business Finance and Investment; Domestic Monetary and Financial Theory and Institutions; Managerial Economics. Ford Foundation Doctoral Fellow, 1970-1973.

Background

  • EKERN, Steinar was born in 1942 in Lillehammer, Norway.

  • Education

    • Sivilokonom Norwegian School Economics and Business Administration, 1966. Master of Science (Oregon), Doctor of Philosophy (Business) Stanford University, 1972, 1973.

    Career

    • Economics, Norsk Hydro, Oslo, 1966-1968. Research Fellow, Assistant Professor, Association Professor, Norwegian School Economics and Business Administration, Bergen, 1968-1978. Professor Business, Norwegian School Economics and Business Administration, Bergen, Norway, since 1978.

    Major achievements

    • Ford Foundation Doctoral Fellow, 1970-1973.

    Views

    My interest in the economics of uncertainty was nurtured by the seminal works of my senior colleagues (Borch, Mossin and Sandmo) at the Norwegian School of Economics and Business Administration. Early contributions to the ‘unanimity approach’ to economies with incomplete markets can be found in my dissertation and its derived articles. Later I developed general propositions for simplifying comparative statics analysis using Pratt-Arrow risk aversion measures and extended the Rothschild-Stiglitz ‘increasing risk’ results.

    I have repeatedly demonstrated shortcomings in various studies purporting to show complex adaptive forecasting methods outperforming more simple forecasting schemes. The decision relevance of stochastic ratios has been questioned. By transferring stochastic dominance analysis to a temporal context I have provided rules for ranking projects according to net present values without having to quantify discounting factors.

    My current applied research interests include petroleum economies and the use of recent financial instruments in planning control.

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    Born 1942
    (age 75)