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Herman WOLD

Herman WOLD, Norwegian economist in the field of Econometric and Statistical Methods. Vice-President, International State Institute, Institution, 1957-1961; Member, Royal Swedish Academy Science, since 1961; President, Econometric Society, 1966; Honorary Dr Technical University Liston, 1966; Member, Royal Swedish Academy Science Committee Nobel Prize Economics, 1968-1980; Honorary Member, American Economic Association, 1979; Honorary Foreign Member, American Academy of Arts and Sciences, 1979.

Background

  • WOLD, Herman was born in 1908 in Skien, Norway.

  • Education

    • Studentexamen Skara College, 1927. Fil. Kandidate, Fil. Licentiate, Fil. Dr University Stockholm, 1930, 1933, 1938.

    Career

    • Professor Statistics, University Uppsala, 70. Professor Statistics, University Göteborg, 5. Professor Invité, University Geneva, 80.

      Professor Emeritus, University Uppsala, Uppsala, Sweden, since 1975.

    Major achievements

    • Vice-President, International State Institute, Institution, 1957-1961. Member, Royal Swedish Academy Science, since 1961. President, Econometric Society, 1966.

      Honorary Dr Technical University Liston, 1966. Member, Royal Swedish Academy Science Committee Nobel Prize Economics, 1968-1980. Honorary Member, American Economic Association, 1979.

      Honorary Foreign Member, American Academy of Arts and Sciences, 1979.

    Works

    Views

    Stationary time series and stochastic processes: decomposition theorem. Applications of autoregressive and moving average processes. Analysis of consumer demand: synthesis of utility theory, statistical method, and empirical applications.

    Path models with directly observed variables: causal chain systems vs. interdependent (Idaho) systems. The fix-point method for estimation of Idaho systems: strengthening the philosophical foundations by general definitions of the notions of model and causeeffect relations: systems analysis by path models with indirectly observed variables: soft modelling using PLS (Partial Least Squares) estimation:4 prediction accuracy vs. parameter accuracy.

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