Cowles Foundation

Cowles Foundation for Research in Economics

Formation	1932
Type	Research institute
Purpose	Economic research
Headquarters	New Haven, Connecticut
Location	United States
Parent organization	Yale University

The Cowles Foundation for Research in Economics is a research institute affiliated with Yale University, dedicated to the advancement of economic theory and its relation to mathematics and statistics. Founded in 1932 by economist Alfred Cowles, the foundation originally began as the Cowles Commission for Research in Economics at Colorado Springs, Colorado, before moving to University of Chicago in 1939, and finally settling at Yale in 1955.

History

The Cowles Foundation was established by Alfred Cowles, an economist and businessman who was motivated by the inadequacies he perceived in economic forecasting and the need for a more scientific approach to economic theory. Initially named the Cowles Commission for Research in Economics, the foundation's early work focused on econometric analysis, which remains a key area of research.

In 1955, the foundation moved from the University of Chicago to Yale University, where it was renamed the Cowles Foundation for Research in Economics. This move was partly due to intellectual differences and the desire for a more favorable environment for the foundation's research objectives.

Research Focus

The Cowles Foundation conducts research primarily in the fields of econometrics, microeconomics, macroeconomics, and game theory. It has been influential in the development of economic theory, particularly through its association with several Nobel laureates in Economics, who have been either members or affiliates of the foundation.

Publications and Impact

The foundation has contributed to numerous publications in economics, particularly through its working paper series and its involvement in academic journals. The research conducted at the Cowles Foundation has had a significant impact on both theoretical and applied economics, influencing policy and academic thought worldwide.

Notable Members

Over the years, the Cowles Foundation has been home to many distinguished economists, including Kenneth Arrow, Gerard Debreu, and Tjalling Koopmans, all of whom have been awarded the Nobel Prize in Economics. Their work at the foundation has played a crucial role in shaping modern economic theory.

See Also

• Economic theory
• Yale University
• Nobel Prize in Economics