Name: Trygve Haavelmo.
Real Name: Trygve Magnus Haavelmo.
Country: Norway.
Date of Birth: December 13, 1911.
Died: July 26, 1999.
Education: Degree in economics from the University of Oslo in 1930, and he studied statistics at University College London.
Subjects Of Study: Economic forecasting econometrics.
Popularly Known: identification problems and analysis of simultaneous economic equations.
Profession: Economist, and professor.
Noble Prize Year: Nobel Prize for Peace in 1989, for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures.
In the field of economic forecasting, Trygve Haavelmo was a pioneer. By demonstrating that statistical probability theory could be included in economic formulations, he enabled the development of econometric models that predict how changes in one aspect of the economy will affect others. The Haavelmo method contributed to the techniques used in national economic forecasting.
