Tjalling C. Koopmans

About Tjalling C. Koopmans

Who is it?: Economist
Birth Day: August 28, 1910
Birth Place: Graveland, Netherlands, Dutch
Died On: February 26, 1985(1985-02-26) (aged 74)\nNew Haven, Connecticut, USA
Birth Sign: Virgo
Alma mater: University of Utrecht University of Leiden
Known for: Ramsey–Cass–Koopmans model Koopmans' theorem
Awards: Nobel Memorial Prize in Economic Sciences (1975)
Fields: Economics, Physics
Doctoral advisor: Hans Kramers Jan Tinbergen
Doctoral students: Carl Christ Stanley Reiter Rolf Mantel (es) Guillermo Calvo
Influenced: John Denis Sargan, Alok Bhargava, Trygve Haavelmo

Tjalling C. Koopmans Net Worth

Tjalling C. Koopmans was bornon August 28, 1910 in Graveland, Netherlands, Dutch, is Economist. Tjalling C. Koopmans was a Dutch American economist and mathematician who, along with economist Leonid Kantorovich, was the joint recipient of the 1975 Nobel Memorial Prize in Economic Sciences. The duo won the award for their contributions to the theory of optimum allocation of resources. Though a graduate in mathematics and physics, Tjalling C. Koopmans grew interested in economics under the influence of economist, Jan Tinbergen, and subsequently earned a PhD in Economics from the University of Leiden. In 1940, he moved to USA, where he worked as a statistician with British Merchant Shipping Mission and thereby got the opportunity to devise models that reorganize shipping routes along with reducing associated costs and achieving results. As part of his research, he developed a rational method called as ‘Activity Analysis’. He was also one among the first persons to invent linear programming during his period. Later, he was part of the Cowles Commission at the University of Chicago between 1944 and 1955 and with the shifting of the Cowles Foundation to Yale University, he became a professor of economics at the University. He retired from the Yale University in 1981. He also served as the president of the American Economic Association in 1981.
Tjalling C. Koopmans is a member of Intellectuals & Academics

💰 Net worth: Under Review

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Biography/Timeline

1930

Koopmans was born in 's-Graveland, Netherlands. He began his university education at the Utrecht University at seventeen, specializing in mathematics. Three years later, in 1930, he switched to theoretical physics. In 1933, he met Jan Tinbergen, the winner of the 1969 Nobel Memorial Prize in Economics, and moved to Amsterdam to study mathematical economics under him. In addition to mathematical economics, Koopmans extended his explorations to econometrics and statistics. In 1936 he graduated from Leiden University with a PhD, under the direction of Hendrik Kramers. The title of the thesis was "Linear regression analysis of economic time series".

1940

Tjalling had two brothers, one of whom was theologist and reverend Dr Jan Koopmans, who, in 1940, early during the German occupation of the Netherlands, wrote the widely distributed pamphlet "Bijna te laat" ("Almost too late", 30,000 copies), warning about the Future of the Jews under the Nazi regime. In 1945, towards the end of the war, he witnessed an execution of hostages in Amsterdam from behind a window and was mortally wounded by a stray bullet.

2013

Koopmans' early works on the Hartree–Fock theory are associated with the Koopmans' theorem, which is very well known in quantum chemistry. Koopmans was awarded his Nobel memorial prize (jointly with Leonid Kantorovich) for his contributions to the field of resource allocation, specifically the theory of optimal use of resources. The work for which the prize was awarded focused on activity analysis, the study of interactions between the inputs and outputs of production, and their relationship to economic efficiency and prices. Finally, the importance of the article by Koopmans (1942) deriving the distribution of the serial correlation coefficient was recognized by John von Neumann, and it later influenced the optimal tests for a unit root by John Denis Sargan and Alok Bhargava (Sargan and Bhargava, 1983).