Jacob Marschak (23 July 1898 – 27 July 1977) was a Russian-American economist, known as "the Father of Econometrics".
“combination of channel and code which will minimize the sum of the average amounts weighted by appropriated probabilities.”
appropriately redundant code can overcome the lack of reliability of the channel.
reconcile the criteria of stability and of collective optimality with those of liberty and equity.” (p.243)
called for incorporation of uncertainty into economic model