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Trygve Haavelmo
Economist

Trygve Haavelmo

Famoose for

Establishing probability-based foundations for econometrics.

The Probability Approach in Econometrics · Simultaneous equations

Born
13 December 1911
Birthplace
Skedsmo Municipality
Died
28 July 1999

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Trygve Haavelmo

Trygve Haavelmo was a Norwegian economist awarded the 1989 economics Nobel for his work on econometric methods.

Early life

Education

Attended Oslo Cathedral School and studied economics at the University of Oslo, working with Ragnar Frisch.

Career

  1. 1930s

    Research

    Worked in Oslo and studied statistics in London.

  2. 1946

    Doctorate

    Received his doctorate from Oslo.

  3. 1948–1979

    Professor

    Taught economics and statistics at the University of Oslo.

Selected work

The Probability Approach in Econometrics

Set out a probabilistic framework for analysing economic relationships.

Simultaneous equations

Examined how interdependent economic variables can be studied statistically.

Beyond work

Outdoor life and generosity

Enjoyed skiing, fishing and time at his cabins in Skurdalen. He donated most of his Nobel prize money to the University of Oslo's economics institute.

Sources & photo creditBiography and career ↗Biographical references ↗Additional biographical source ↗Outdoor life and generosity — biographical source ↗

Original photograph. Cropped and displayed in monochrome.

Photo: Unknown author. Public domain · Original image. Cropped and displayed in monochrome.