Mr.
Harry M. Markowitz
(
–
)
1927
2023
City University of New York
;
New York, NY
Economist; Educator; Company researcher and administrator
Area
Social and Behavioral Sciences
Specialty
Economics
Elected
1987
Markowitz applied mathematical and computer techniques to various practical decision-making areas. In finance, in an article in 1952 and a book in 1959, he presented what is now referred to as MPT, Modern Portfolio Theory, a standard topic in college courses and texts on investments. He also developed sparse matrix techniques for solving very large mathematical optimization problems, now standard in production optimization software; and designed and supervised the development of the SIMSCRIPT programming language which has been widely used for programming computer simulations of systems like factories, transportation systems, and communication networks.
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