Markowitz, Harry (märˈkəwĭtsˌ) [key], 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 Miller.
The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.
More on Harry Markowitz from Infoplease:
See more Encyclopedia articles on: Economics: Biographies