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Karl Henrik BORCH


Karl Henrik BORCH, Norwegian economist in the field of General Equilibrium Theory; Mathematical Methods and Models. Fellow, Econometric Society, 1963; Member, International State Institute, Institution, 1968, Norwegian Academy of Science, 1981; Prize, Accademia dei Lincei, Rome, 1975.


BORCH, Karl Henrik was born in 1919 in Sarpsborg, Norway.


Master of Arts (Actuarial Science), Doctor of Philosophy (Mathematics) University Oslo, 1947, 1963.


Assistant Actuary, Samvirke Insurance, Oslo, Norway, 1945-1947. Scientific Officer, United Nations Educational Scientific and Cultural Organisation, Cairo, Teheran, Delhi, 1947-1951. Research Fellow, Cowles Commission, University Chicago, 1952.

Regional Repres., United Nations International Children’s Educational Fund, Brazzaville, 1952-1953. Head, Productivity Measurement Service, Organisation of European Economic Co-operation, Paris, 1954-1959. Research Fellow, Norwegian School Business, 1959-1962.

Research Association, Princeton University, 1962-1963. Visiting Prof, University of California, Los Angeles, Calif., United States of America, 1964-1965, 1981, Nuffield College Oxford, 1967, Ohio State University, 1968-1969, Bonn University, 1972-1973, Swedish School Economics, 1975, University Ottawa, 1976. Professor Insurance, Norwegian School Business, Bergen, Norway, 1963-.

Editor, Productivity Measurement Review, 1955-1959. Editorial Board, Productivity Measurement Review 1959-1966, Theory and Decision, since 1970, International J. Game Theory, 1971-1981, Finance Review since 1976, J. Bank Fin since 1977, Economics Letters, since 1978.


  • Fellow, Econometric Society, 1963. Member, International State Institute, Institution, 1968, Norwegian Academy of Science, 1981. Prize, Accademia dei Lincei, Rome, 1975.


My actuarial training led to mathematical statistics, and then to game theory, which gave me an idea of what economics was all about. When in 1959 I got a research post which game me almost complete freedom, as long as my work was relevant to insurance, I naturally set out to develop an economic theory of insurance. As most universities’ courses in insurance attract few students, I have had to teach many other subjects.

My book, The Economics of Uncertainty, is really a set of lecture notes written when no students registered for a course on the economics of insurance.