Tjalling Koopmans' Nobel Prize medal gifted to Cowles

05/28/2019

The Cowles Foundation was gifted Tjalling Koopmans’ Nobel Prize medal by the Frankel family.

To mark the occasion, an intimate ceremony was held at 28 Hillhouse Ave. with Nobel laureates William Nordhaus and Robert Shiller on hand to speak of Koopmans’ influence on their careers. 

During the ceremony, Ann Frankel (Tjalling’s daughter) spoke of her father, her father’s work, and the medal before handing it over to former Cowles Director, Al Klevorick, who accepted the medal on behalf of Larry Samuelson. “In my view, Tjalling Koopmans embodied, in person and in his work, the Cowles Foundation.” “It is a great honor to us to have the medal and be able to display it.”

Ann Frankel was joined by her husband Joe Frankel, her son Martin Unsel-Frankel, and Martin’s wife, ???.

Economics Professor and Nobel laureate, William Nordhaus, remembers when he was a junior faculty member meeting  Tjalling Koopmans for the first time

The donation is especially meaningful, as Tjalling Koopmans was instrumental in moving the Cowles Foundation (then the Cowles Commission) from the University of Chicago to Yale in 1954. He was a life-long staff member and served two terms as Director of Cowles in the 1960s. We are honored to house and display his Nobel medal.

Tjalling Koopmans (jointly with Leonid Kantorovich) was awarded the Nobel Memorial Prize in Economic Sciences in 1975 for his contributions to the field of resource allocation, specifically the theory of optimal use of resources.
 Shiller: “I think the spirit of [Koopmans’] research lives on at Cowles.” “I think the Chicago Cowles conflict is still alive and well.” “The motto is, ‘Theory and Measurement,’ which is exactly a transposition of [Koopmans’] 1947 paper.” “Tjalling was very import in forming the ethos and method that lives on today in the Cowles Foundation, and more broadly, the Yale community.”
 

is most grateful to the Frankel family for its generous gift of Tjalling Koopmans’ Nobel Prize medal. An intimate ceremony was held to honor the occasion with Nobel laureates William Nordhaus and Robert Shiller on hand to speak of Koopmans’ influence on their careers, and former Cowles Director Al Klevorick accepting the medal on behalf of Larry Samuelson.

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