Abstract

Jacob Marschak was a profound intellectual catalyst in a number of areas in finance. His insistence in mathematical rigor and an axiomatic approach, his definition of the problem of asset choice and portfolio theory, and his modeling of uncertainty and optimal investment theory were at once original and profound. While others are more typically credited with pioneering work in these areas, the roots of their innovations and, indeed, their early finance education can be traced back to him.KeywordsClassical SchoolAxiomatic ApproachEconomic SociologyPortfolio TheoryTrivial ExtensionThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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