Frank Knight
American economist (1885–1972) / From Wikipedia, the free encyclopedia
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Frank Hyneman Knight (November 7, 1885 – April 15, 1972) was an American economist who spent most of his career at the University of Chicago, where he became one of the founders of the Chicago School.
Frank Knight | |
|---|---|
 | |
| Born | Frank Hyneman Knight (1885-11-07)7 November 1885 |
| Died | 15 April 1972(1972-04-15) (aged 86) |
| Parent(s) | Winton Knight (father ) Julia Hyneman (mother) |
| Relatives | Melvin Moses Knight (brother) Bruce Winton Knight (brother) |
| Academic career | |
| Institution | Cornell University University of Chicago University of Iowa |
| Field | Risk theory Profit theory Value theory |
| School or tradition | Chicago School of Economics |
| Alma mater | Milligan College University of Tennessee Cornell University |
| Doctoral advisor | Allyn A. Young Alvin S. Johnson |
| Doctoral students | Milton Friedman George Stigler Charles E. Lindblom James M. Buchanan |
| Influences | Clarence Edwin Ayres John Bates Clark Herbert J. Davenport Max Weber |
| Contributions | Knightian uncertainty |
| Awards | Francis A. Walker Medal (1957) |
Nobel laureates Milton Friedman, George Stigler and James M. Buchanan were all students of Knight at Chicago. Ronald Coase said that Knight, without teaching him, was a major influence on his thinking.[1] F.A. Hayek considered Knight to be one of the major figures in preserving and promoting classical liberal thought in the twentieth century.[2][3]
Paul Samuelson named Knight (along with Harry Gunnison Brown, Allyn Abbott Young, Henry Ludwell Moore, Wesley Clair Mitchell, Jacob Viner, and Henry Schultz) as one of the several "American saints in economics" born after 1860.[4]