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13-656: The first proposal for a special institute in quantitative economics at the Netherlands School of Economics in Rotterdam was made by Henri Theil in 1953 with support of Jan Tinbergen , while working at the Central Planning Bureau . The senate of the school added the requirement that it "would not confine itself to economic applications, but would also give attention to business problems, which implied that operations research had to be included in

26-577: Is a French economist. His work in economics and related social science includes his analyses, concepts and results in Public Economics and Normative Economics (hence also social ethics and political philosophy) focusing on equality, distributive justice, and efficiency of economic measures, and in other fields and problems often applying them. Born in Paris in December 1932, Serge Kolm studied at

39-917: The Ecole Polytechnique where his rank permitted him to join the civil service body of the Corps des Ponts et Chaussées (which has a long tradition of applied and theoretical economic research). He worked in Africa, heading water and river basin management in the Sahel region and setting up development plans for the new independent post-colonial states. He held teaching and research positions in France ( Ecole des Hautes Etudes en Sciences Sociales , Ecole Nationale de la Statistique et de l'Administration Economique , Ecole Nationale des Ponts et Chaussées , Institut d'Etudes Politiques , General Planning Commission) and in

52-707: The Econometric Institute in 1956, which he directed for ten years and was then succeeded by Jan Sandee . He also wrote Principles of Econometrics . In 1966 he moved to the United States, where he was appointed Professor of Econometrics and director of the Center for Mathematical Studies in Business and Economics at the University of Chicago . He also taught at the University of Florida . Theil

65-691: The BSc and MSc level, and 28 PhD students with a staff of 35. Directors since 1956 Henri Theil Henri (Hans) Theil (October 13, 1924 – August 20, 2000) was a Dutch econometrician and professor at the Netherlands School of Economics in Rotterdam, known for his contributions to the field of econometrics . Born in Amsterdam, Theil started to study mathematics and physics at Utrecht University in 1942. Later in World War II he

78-766: The Econometric Society since 1972 and of the Institute of Public Economics, Serge Kolm received honoris causa doctorates from the universities of Fribourg and Soka, and the distinction of Officier des Palmes Académiques from the French Government. Kolm's work in Public Economics includes: Kolm's works in Normative Economics include: Kolm's works on pro-social conducts include the analyses of: Kolm's studies and theory of transitions between various kinds of economic systems include

91-567: The USA ( Harvard University and Stanford University ), and advisory and planning functions in Europe, in various countries in transition, and for international organizations (OECD, IMF, WHO). He founded and headed a school for development economics and a research center on socio-economic analysis. Author of over 40 books and several hundred scientific articles, member of the editorial board of various scholarly journals in economics and philosophy, fellow of

104-595: The economy and came into widespread use for this purpose. He is also known for the Theil index , a measure of entropy , which belongs to the class of Kolm -Indices and is used as an inequality indicator in econometrics. He is also responsible for the Theil–Sen estimator for robust regression . Theil's archives are kept at Hope College . Theil published a series of books and numerous articles. Books: Serge-Christophe Kolm Serge-Christophe Kolm (born December 1932)

117-549: The program." In the year 1955–56 Theil was Visiting Professor at the University of Chicago , where he made a similar proposal again with support of Jan Tinbergen . This proposal was eventually accepted both in Chicago and in Rotterdam, and the Econometric Institute started September 1956 in Chicago and later in Rotterdam. The Econometric Institute was the first research institute in the field of econometrics in

130-477: The world, and started with a research staff of 6. Henri Theil became its first director, and headed the institute until 1966. In the early years the Institute developed a full academic program in Econometrics. The program originally focussed on "national and international macroeconomic policy; the required computing power to estimate econometric models was expensive and scarcely available, so that econometrics

143-430: Was almost exclusively applied in public (statistical) agencies." This evolved over the years. In this time many leading econometricians were guest at the Institute. In the new Millennium the Econometric Institute had "dismissed a strong emphasis on mathematics and statistics as research areas, and it embraced areas as finance, marketing and economics in general." In 2005 the Econometric Institute served some 300 students at

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156-645: Was arrested and was imprisoned in Vught . After the war he started to study economics at the Gemeente-Universiteit Amsterdam , where in 1951 he received his PhD under Pieter Hennipman . After graduation Theil started working as researcher for the Bureau for Economic Policy Analysis under Jan Tinbergen . In 1953 he was appointed Professor of Econometrics at the Netherlands School of Economics as successor of Jan Tinbergen . Here he founded

169-917: Was awarded honorary degrees by the University of Chicago in 1964, by the Vrije Universiteit Brussel in 1973 and by the Erasmus University Rotterdam in 1983. In 1968 he was elected as a Fellow of the American Statistical Association . In 1980 he became correspondent of the Royal Netherlands Academy of Arts and Sciences . Theil is best known for his invention of the widely used two-stage least squares (2SLS) method in 1953. This estimation technique greatly simplified estimation of simultaneous equation models of

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