Leonard Jimmie Savage

Leonard SavageLeonard J. SavageSavageL. J. SavageL.J. SavageSavage, Leonard JimmieJimmie SavageSavage, L. J.
Leonard Jimmie Savage (born Leonard Ogashevitz; 20 November 1917 – 1 November 1971) was an American mathematician and statistician.wikipedia
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Milton Friedman

FriedmanFriedman, MiltonMilton
Economist Milton Friedman said Savage was "one of the few people I have met whom I would unhesitatingly call a genius."
His argument was part of an ongoing debate among such statisticians as Jerzy Neyman, Leonard Savage, and Ronald Fisher.

Subjective expected utility

Leonard Savagesubjective and personal probabilitysubjective expected utility theory
His most noted work was the 1954 book The Foundations of Statistics, in which he put forward a theory of subjective and personal probability and statistics which forms one of the strands underlying Bayesian statistics and has applications to game theory.
Characterizing the behavior of decision-makers as using subjective expected utility was promoted and axiomatized by L. J. Savage in 1954 following previous work by Ramsey and von Neumann.

List of statisticians

Statisticiansstatistician
Leonard Jimmie Savage (born Leonard Ogashevitz; 20 November 1917 – 1 November 1971) was an American mathematician and statistician.

Macy conferences

Macy conference
Later he was one the participants to the Macy conferences on cybernetics.
Harold Alexander Abramson, Ackerman, Vahe E. Amassian, William Ross Ashby, Yehoshua Bar-Hillel, Gregory Bateson, Alex Bavelas, Julian H. Bigelow, Herbert G. Birch, John R. Bowman, Henry W. Brosin, Yuen Ren Chao (who memorably recited the Lion-Eating Poet in the Stone Den), Jan Droogleever-Fortuyn, M. Ericsson, Fitch, Lawrence K. Frank, Ralph Waldo Gerard, William Grey Walter, Molly Harrower, George Evelyn Hutchinson, Heinrich Klüver, Lawrence S. Kubie, Paul Lazarsfeld, Kurt Lewin, J. C. R. Licklider, Howard S. Liddell, Donald B. Lindsley, W. K. Livingston, David Lloyd, Rafael Lorente de Nó, R. Duncan Luce, Donald M. MacKay, Donald G. Marquis, Warren S. McCulloch, Turner McLardy, Margaret Mead, Frederick A. Mettier, Marcel Monnier, Oskar Morgenstern, F. S. C. Northrop, Walter Pitts, Henry Quastler, Antoine Remond, I. A. Richards, David McKenzie Rioch, Arturo Rosenblueth, Leonard J. Savage, T. C. Schneirla, Claude Shannon, John Stroud, Hans-Lukas Teuber, Mottram Torre, Gerhardt von Bonin, Heinz von Foerster, John von Neumann, Heinz Werner, Norbert Wiener, Jerome B. Wiesner, J. Z. Young.

Sumner Byron Myers

Sumner MyersMyersMyers, Sumner Byron
Though his thesis advisor was Sumner Myers, he also credited Milton Friedman and W. Allen Wallis as statistical mentors.

Louis Bachelier

BachelierBachelier, Louis Jean-Baptiste Alphonse
One of Savage's indirect contributions was his discovery of the work of Louis Bachelier on stochastic models for asset prices and the mathematical theory of option pricing.
Although Bachelier's work on random walks predated Einstein's celebrated study of Brownian motion by five years, the pioneering nature of his work was recognized only after several decades, first by Andrey Kolmogorov who pointed out his work to Paul Lévy, then by Leonard Jimmie Savage who translated Bachelier's thesis to English and brought the work of Bachelier to the attention of Paul Samuelson.

Loss function

objective functioncost functionrisk function
Leonard J. Savage argued that using non-Bayesian methods such as minimax, the loss function should be based on the idea of regret, i.e., the loss associated with a decision should be the difference between the consequences of the best decision that could have been made had the underlying circumstances been known and the decision that was in fact taken before they were known.

Hewitt–Savage zero–one law

The Hewitt–Savage zero–one law is (in part) named after him, as is the Friedman–Savage utility function.
It is named after Edwin Hewitt and Leonard Jimmie Savage.

Friedman–Savage utility function

The Hewitt–Savage zero–one law is (in part) named after him, as is the Friedman–Savage utility function.
The Friedman–Savage utility function is the utility function postulated in the theory that Milton Friedman and Leonard J. Savage put forth in their 1948 paper.

Regret (decision theory)

minimax regretregretregret theory
In 1951 he introduced the minimax regret criterion used in decision theory.

Decision theory

decision sciencestatistical decision theorydecision sciences
In 1951 he introduced the minimax regret criterion used in decision theory.
The revival of subjective probability theory, from the work of Frank Ramsey, Bruno de Finetti, Leonard Savage and others, extended the scope of expected utility theory to situations where subjective probabilities can be used.

Mathematician

mathematiciansapplied mathematicianMathematics
Leonard Jimmie Savage (born Leonard Ogashevitz; 20 November 1917 – 1 November 1971) was an American mathematician and statistician.

University of Michigan

MichiganUniversity of Michigan, Ann ArborUniversity of Michigan at Ann Arbor
He graduated from the University of Michigan and later worked at the Institute for Advanced Study in Princeton, New Jersey, the University of Chicago, the University of Michigan, Yale University, and the Statistical Research Group at Columbia University.

Institute for Advanced Study

Institute for Advanced StudiesInstitute for Advanced Study, PrincetonIAS
He graduated from the University of Michigan and later worked at the Institute for Advanced Study in Princeton, New Jersey, the University of Chicago, the University of Michigan, Yale University, and the Statistical Research Group at Columbia University.

Princeton, New Jersey

PrincetonPrinceton, NJPrinceton, N.J.
He graduated from the University of Michigan and later worked at the Institute for Advanced Study in Princeton, New Jersey, the University of Chicago, the University of Michigan, Yale University, and the Statistical Research Group at Columbia University.

University of Chicago

The University of ChicagoChicagoChicago University
He graduated from the University of Michigan and later worked at the Institute for Advanced Study in Princeton, New Jersey, the University of Chicago, the University of Michigan, Yale University, and the Statistical Research Group at Columbia University.

Yale University

YaleYale CollegeUniversity of Yale
He graduated from the University of Michigan and later worked at the Institute for Advanced Study in Princeton, New Jersey, the University of Chicago, the University of Michigan, Yale University, and the Statistical Research Group at Columbia University.

Applied Mathematics Panel

Statistical Research Group
He graduated from the University of Michigan and later worked at the Institute for Advanced Study in Princeton, New Jersey, the University of Chicago, the University of Michigan, Yale University, and the Statistical Research Group at Columbia University.

Columbia University

ColumbiaColumbia CollegeUniversity of Columbia
He graduated from the University of Michigan and later worked at the Institute for Advanced Study in Princeton, New Jersey, the University of Chicago, the University of Michigan, Yale University, and the Statistical Research Group at Columbia University.

W. Allen Wallis

Wallis, W. AllenWilson Allen Wallis
Though his thesis advisor was Sumner Myers, he also credited Milton Friedman and W. Allen Wallis as statistical mentors.

Bayesian statistics

BayesianBayesian methodsBayesian analysis
His most noted work was the 1954 book The Foundations of Statistics, in which he put forward a theory of subjective and personal probability and statistics which forms one of the strands underlying Bayesian statistics and has applications to game theory.

Game theory

gamegame theoristgame theoretic
His most noted work was the 1954 book The Foundations of Statistics, in which he put forward a theory of subjective and personal probability and statistics which forms one of the strands underlying Bayesian statistics and has applications to game theory.