Markowitz, Harry


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Markowitz, Harry

(mär`kəwĭts'), 1927–, American economist, Ph.D. Univ. of Chicago, 1954. In the 1950s he developed a theory of "portfolio choice," which allows investors to analyze risk as well as their expected return. For this work Markowitz, a professor at Baruch College at the City Univ. of New York, shared the 1990 Nobel Memorial Prize in Economic Sciences with William Sharpe and Merton MillerMiller, Merton H.,
1923–2000, American economist, grad. Harvard, 1943, Ph.D. Johns Hopkins, 1952. A professor at Carnegie-Mellon Univ. (1953–61) and the Univ.
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