© 2016

The Econometricians

Gauss, Galton, Pearson, Fisher, Hotelling, Cowles, Frisch and Haavelmo


Part of the Great Minds in Finance book series (GMF)

Table of contents

  1. Front Matter
    Pages i-xxi
  2. Mathematicians and Astronomers

    1. Front Matter
      Pages 1-1
    2. Colin Read
      Pages 11-31
    3. Colin Read
      Pages 33-56
  3. From Least Squares to Eugenics

    1. Front Matter
      Pages 65-66
    2. Colin Read
      Pages 67-73
    3. Colin Read
      Pages 75-80
    4. Colin Read
      Pages 83-87
    5. Colin Read
      Pages 89-97
  4. The Formation of Modern Statistics

    1. Front Matter
      Pages 109-109
    2. Colin Read
      Pages 111-120
    3. Colin Read
      Pages 121-128
    4. Colin Read
      Pages 129-137
    5. Colin Read
      Pages 139-148
    6. Colin Read
      Pages 149-158
    7. Colin Read
      Pages 159-163

About this book


This is the seventh book in a series of discussions about the great minds in the history and theory of finance. While the series addresses the contributions of scholars in our understanding of financial decisions and markets, this seventh book describes how econometrics developed and how its underlying assumptions created the underpinning of much of modern financial theory. The author shows that the theorists of econometrics were a mix of mathematicians and cosmologists, entrepreneurs, economists and financial scholars. The author demonstrates that by laying down the foundation of empirical analysis, they also forever determined the way in which we think about financial returns and the vocabulary we employ to describe them. Through this volume, the reader can discover the life stories, inspirations, and theories of Carl Friedrich Gauss, Francis Galton, Karl Pearson, Ronald Aylmer Fisher, Harold Hotelling, Alfred Cowles III, Ragnar Frisch, and Trygve Haavelmo, specifically. We learn how each theorist made an intellectual leap simply by thinking about a conventional problem in an unconventional way.


Econometrics Statistics Economics theory Empirical Analysis History of Financial Thought Financial Returns European History

Authors and affiliations

  1. 1.Professor of Economics and Finance former Dean of the School of Business and EconomicsThe State University of New York at Plattsburgh (SUNY)USA

About the authors

Colin Read is a Professor of Economics and Finance, former Dean of the School of Business and Economics at The State University of New York at Plattsburgh (SUNY), USA, and a columnist for the Plattsburgh New York Press Republican newspaper. He has a PhD in economics, a Juris Doctor (JD) degree in law, a Masters of Business Administration (MBA), a master's degree in taxation, and has taught environmental and energy economics and finance for 25 years. Colin’s recent books include BP and the Macondo Spill: The Complete Story, The Fear Factor, Global Financial Meltdown: How We Can Avoid the Next Economic Crisis, The Rise and Fall of an Economic Empire: With Lessons for Aspiring Nations, Great Minds in Finance: The Life Cyclists, Great Minds in Finance: The Portfolio Theorists, Great Minds in Finance: The Efficient Market Hypothesists, Great Minds in Finance: The Rise of the Quants, Great Minds in Finance: The Corporate Financiers, and Great Minds in Finance: The Public Financiers.

Bibliographic information

  • Book Title The Econometricians
  • Book Subtitle Gauss, Galton, Pearson, Fisher, Hotelling, Cowles, Frisch and Haavelmo
  • Authors Colin Read
  • Series Title Great Minds in Finance
  • Series Abbreviated Title Great Minds in Finance
  • DOI
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2016
  • Publisher Name Palgrave Macmillan, London
  • eBook Packages Economics and Finance Economics and Finance (R0)
  • Hardcover ISBN 978-1-137-34136-5
  • Softcover ISBN 978-1-349-67414-5
  • eBook ISBN 978-1-137-34137-2
  • Edition Number 1
  • Number of Pages XXI, 261
  • Number of Illustrations 2 b/w illustrations, 19 illustrations in colour
  • Topics Finance, general
  • Buy this book on publisher's site
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