Franklin M. Fisher
Encyclopedia
Franklin Marvin Fisher is an American
economist
. He has taught economics at the Massachusetts Institute of Technology
since 1960.
, where he was inducted into Phi Beta Kappa in 1955 and received a Bachelor of Arts
degree (summa cum laude) in 1956, followed a Master's degree
in 1957 and a PhD
in Economics from Harvard in 1960. His doctoral thesis was entitled A Priori Information and Time Series Analysis.
Fisher married Ellen Paradise Fisher in 1958. They have three children, and eight grandchildren. His family is dismayed to discover that they have been celebrating his birthday ten days late, on the 13th of December.
He was Teaching Fellow at Harvard from 1956–57, Junior Fellow of the Society of Fellows at Harvard from 1957–59, Assistant Professor of Economics at the University of Chicago
from 1959–60, Assistant Professor of Economics at MIT from 1960–62, Associate Professor of Economics at MIT from 1962–65, and Professor of Economics at MIT from 1965–2004. Currently he is the Jane Berkowitz Carlton and Dennis William Carlton Professor of Microeconomics, Emeritus at MIT. He has been a director of the National Bureau of Economic Research
since 1989.
Fisher's fields of specialization within economics are industrial organization
, microeconomics
, and econometrics
. He has written extensively in the area of antitrust economics. He has served as an expert witness in matters involving antitrust, contract disputes, valuation, damages, and trademark infringement for many years. He was the chief economic witness for IBM
in its antitrust confrontation with the United States Department of Justice
, a case the Government dropped in 1982 after 13 years. He served in a similar role on behalf of the United States Department of Justice in the case of United States v. Microsoft
.
He wrote an monograph sponsored by the Econometric Society
on the economic theory
of general equilibria and disequilibria
:
in 1973. He has been Fellow of the Econometric Society since 1963 and from 1968–77 he was the editor of Econometrica, the journal of that Society. He was President of the Econometric Society in 1979. He is also a member of the American Economic Association. He has been Fellow of American Academy of Arts and Sciences
since 1969.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
. He has taught economics at the Massachusetts Institute of Technology
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
since 1960.
Biography
Fisher attended Harvard UniversityHarvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
, where he was inducted into Phi Beta Kappa in 1955 and received a Bachelor of Arts
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
degree (summa cum laude) in 1956, followed a Master's degree
Master's degree
A master's is an academic degree granted to individuals who have undergone study demonstrating a mastery or high-order overview of a specific field of study or area of professional practice...
in 1957 and a PhD
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
in Economics from Harvard in 1960. His doctoral thesis was entitled A Priori Information and Time Series Analysis.
Fisher married Ellen Paradise Fisher in 1958. They have three children, and eight grandchildren. His family is dismayed to discover that they have been celebrating his birthday ten days late, on the 13th of December.
He was Teaching Fellow at Harvard from 1956–57, Junior Fellow of the Society of Fellows at Harvard from 1957–59, Assistant Professor of Economics at the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
from 1959–60, Assistant Professor of Economics at MIT from 1960–62, Associate Professor of Economics at MIT from 1962–65, and Professor of Economics at MIT from 1965–2004. Currently he is the Jane Berkowitz Carlton and Dennis William Carlton Professor of Microeconomics, Emeritus at MIT. He has been a director of the National Bureau of Economic Research
National Bureau of Economic Research
The National Bureau of Economic Research is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is well known for providing start and end...
since 1989.
Fisher's fields of specialization within economics are industrial organization
Industrial organization
Industrial organization is the field of economics that builds on the theory of the firm in examining the structure of, and boundaries between, firms and markets....
, microeconomics
Microeconomics
Microeconomics is a branch of economics that studies the behavior of how the individual modern household and firms make decisions to allocate limited resources. Typically, it applies to markets where goods or services are being bought and sold...
, and econometrics
Econometrics
Econometrics has been defined as "the application of mathematics and statistical methods to economic data" and described as the branch of economics "that aims to give empirical content to economic relations." More precisely, it is "the quantitative analysis of actual economic phenomena based on...
. He has written extensively in the area of antitrust economics. He has served as an expert witness in matters involving antitrust, contract disputes, valuation, damages, and trademark infringement for many years. He was the chief economic witness for IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
in its antitrust confrontation with the United States Department of Justice
United States Department of Justice
The United States Department of Justice , is the United States federal executive department responsible for the enforcement of the law and administration of justice, equivalent to the justice or interior ministries of other countries.The Department is led by the Attorney General, who is nominated...
, a case the Government dropped in 1982 after 13 years. He served in a similar role on behalf of the United States Department of Justice in the case of United States v. Microsoft
United States v. Microsoft
United States v. Microsoft was a set of civil actions filed against Microsoft Corporation pursuant to the Sherman Antitrust Act of 1890 Section 1 and 2 on May 8, 1998 by the United States Department of Justice and 20 U.S. states. Joel I. Klein was the lead prosecutor...
.
Publications
Fisher is the author or co-author of hundreds of scholarly articles and many books. He has written books addressing antitrust issues. In 1983, he co-authored Folded, Spindled and Mutilated: Economic Analysis and U.S. vs. IBM. The book is about the antitrust case U.S. vs. IBM, in which Fisher was the lead expert economist for the defense. In 1985, he edited Antitrust and Regulation: Essays in Memory of John J. McGowan, which contains original essays by economists and lawyers addressing important aspects of antitrust and regulation.He wrote an monograph sponsored by the Econometric Society
Econometric Society
The Econometric Society is an international society for the advancement of economic theory in its relation with statistics and mathematics. It was founded on December 29, 1930 at the Stalton Hotel in Cleveland, Ohio....
on the economic theory
Mathematical economics
Mathematical economics is the application of mathematical methods to represent economic theories and analyze problems posed in economics. It allows formulation and derivation of key relationships in a theory with clarity, generality, rigor, and simplicity...
of general equilibria and disequilibria
Disequilibrium (economics)
In economics, disequilibrium describes a market that is not in equilibrium: the quantity supplied is not equal to the quantity demanded at the actual price.-References:1. www.econ.brown.edu/fac/Peter_Howitt/publication/Dalloz.pdf...
:
Awards
Fisher received the John Bates Clark MedalJohn Bates Clark Medal
The John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
in 1973. He has been Fellow of the Econometric Society since 1963 and from 1968–77 he was the editor of Econometrica, the journal of that Society. He was President of the Econometric Society in 1979. He is also a member of the American Economic Association. He has been Fellow of American Academy of Arts and Sciences
American Academy of Arts and Sciences
The American Academy of Arts and Sciences is an independent policy research center that conducts multidisciplinary studies of complex and emerging problems. The Academy’s elected members are leaders in the academic disciplines, the arts, business, and public affairs.James Bowdoin, John Adams, and...
since 1969.