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Herman WOLD

economist

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.

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.