The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Marschak, Jacob (1898–1977)

  • Roy Radner
Reference work entry


The diversity of Jacob Marschak’s education and early experience made it likely that he would approach the study of economic behaviour with more than the average breadth of interest and vision. He was born in Kiev on 23 July 1898, and studied mechanical engineering at the Kiev Institute of Technology. At the beginning of the Russian Revolution he served briefly as Minister of Labour in the Menshevik government of Georgia but was forced to escape to Germany. There he went first to the University of Berlin, where he studied economics and statistics with L.V. Bortkiewicz, and then to the University of Heidelberg, where he received his Ph.D. in economics in 1922. His professors at Heidelberg included E. Lederer in economics, A. Weber in sociology, K. Jaspers in philosophy and G. Anschuetz in public law.


Decision theory Demand theory Econometrics Equilibrium Information, value of Joint demand Marschak, J. Rationality Socialism Stochastic theory Teams, economic theory of Uncertainty 

JEL Classifications

This is a preview of subscription content, log in to check access.


  1. Bhattacharya, R.N., and M.K. Majumdar. 1973. Random exchange economies. Journal of Economic Theory 6: 37–67.CrossRefGoogle Scholar
  2. Groves, T. 1973. Incentives in teams. Econometrica 41: 617–631.CrossRefGoogle Scholar
  3. Groves, T., and J. Ledyard. 1987. Incentive compatibility ten years later. In Information, incentives, and economic mechanisms: Essays in honor of Leonid Hurwicz, ed. T. Groves, R. Radner, and S. Reiter. Minneapolis: University of Minnesota Press.Google Scholar
  4. Haavelmo, T. 1943. The statistical implications of a system of simultaneous equations. Econometrica 11: 1–12.CrossRefGoogle Scholar
  5. Hildenbrand, W. 1971. Random preferences and equilibrium. Journal of Economic Theory 3: 414–429.CrossRefGoogle Scholar
  6. Hurwicz, L. 1979. On the interaction between information and incentives in organizations. In Communication and control in society, ed. K. Drittendorf. New York: Gordon Breach.Google Scholar
  7. Luce, R.D., R. Bush, and E. Galanter. (eds.). 1963–5. Handbook of mathematical psychology. 3 vols. New York: Wiley.Google Scholar
  8. Mann, H.B., and A. Wald. 1943. On the statistical treatment of linear stochastic difference equations. Econometrica 11: 173–220.CrossRefGoogle Scholar
  9. McFadden, D. 1982. Qualitative choice models. In Advances in economic theory, ed. W. Hildenbrand. Cambridge: Cambridge University Press.Google Scholar
  10. McGuire, C.B., and R. Radner (eds.). 1986. Decision and organization, 2nd ed. Minneapolis: University of Minnesota Press. Originally published Amsterdam: North-Holland, 1972.Google Scholar
  11. Radner, R. 1986. The internal economy of large firms. Economic Journal 96: 1–22.CrossRefGoogle Scholar

Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Roy Radner
    • 1
  1. 1.