Alfred Cowles, 3rd was an American 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...

, businessman and founder of the Cowles Commission. He graduated from Yale

YALE

RapidMiner, formerly YALE , is an environment for machine learning, data mining, text mining, predictive analytics, and business analytics. It is used for research, education, training, rapid prototyping, application development, and industrial applications...

 in 1913, where he was a member of Skull and Bones

Skull and Bones

Skull and Bones is an undergraduate senior or secret society at Yale University, New Haven, Connecticut. It is a traditional peer society to Scroll and Key and Wolf's Head, as the three senior class 'landed societies' at Yale....

.

He was the grandson of Alfred Cowles, Sr.

Alfred Cowles, Sr.

Alfred Cowles, Sr. was an American businessperson and newspaper publisher. During the 1860s to 1880s he was bookkeeper, treasurer and business manager of the Chicago Tribune of which he was part owner....

, who was a founder of the Chicago Tribune. His father, Alfred Cowles, Jr.

Alfred Cowles, Jr.

Alfred Cowles, Jr. He was the son of Alfred Cowles, Sr. and Sarah Hutchinson Cowles. His father was an incorporator along with John S. Scripps of the Chicago Tribune. Alfred Junior was graduated from Yale University in 1886, where he was a member of Skull and Bones...

 (1865-1939) managed and directed the Chicago Tribune from 1898 to 1901 and the American Radiator Company. His mother was Elizabeth Cheney (1865-1898). His parents lived at 1130 N. Lake Shore Drive in Chicago, Illinois. Alfred Cowles III had three siblings: Knight Cheney Cowles (born 1892); John Cheney Cowles (born 1894); and Thomas Hooker Cowles (born June 6, 1895) who married Barbara Granger, daughter of architect Alfred Hoyt Granger.

Cowles's primary concern in 1932 was to elevate economics

Economics

Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...

 into a more precise science

Science

Science is a systematic enterprise that builds and organizes knowledge in the form of testable explanations and predictions about the universe...

 using mathematical and statistical techniques. Alfred Cowles was Fellow and Treasurer

Treasurer

A treasurer is the person responsible for running the treasury of an organization. The adjective for a treasurer is normally "tresorial". The adjective "treasurial" normally means pertaining to a treasury, rather than the treasurer.-Government:...

 of 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....

.

Papers

• Stock Market Forecasting Econometrica
  Econometrica
  Econometrica is a peer-reviewed academic journal of economics, publishing articles not only in econometrics but in many areas of economics. It is published by the Econometric Society and distributed by Wiley-Blackwell. Econometrica is one of the most highly ranked economics journals in the world...
  
  , 12, 1944
• A Revision of Previous Conclusions Regarding Stock Price Behavior Econometrica
  Econometrica
  Econometrica is a peer-reviewed academic journal of economics, publishing articles not only in econometrics but in many areas of economics. It is published by the Econometric Society and distributed by Wiley-Blackwell. Econometrica is one of the most highly ranked economics journals in the world...
  
  , 28(4), 1960