William A. Brock (economist)
Encyclopedia
William Allen "Buz" Brock is a mathematical economist, a professor at the University of Wisconsin–Madison
, since 1975
. He is known for his application of a branch of mathematics known as chaos theory
to economic theory and econometrics
. In 1998, he was elected to the National Academy of Sciences
in the Economics Section.
University of Wisconsin–Madison
The University of Wisconsin–Madison is a public research university located in Madison, Wisconsin, United States. Founded in 1848, UW–Madison is the flagship campus of the University of Wisconsin System. It became a land-grant institution in 1866...
, since 1975
. He is known for his application of a branch of mathematics known as chaos theory
Chaos theory
Chaos theory is a field of study in mathematics, with applications in several disciplines including physics, economics, biology, and philosophy. Chaos theory studies the behavior of dynamical systems that are highly sensitive to initial conditions, an effect which is popularly referred to as the...
to economic theory 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...
. In 1998, he was elected to the National Academy of Sciences
United States National Academy of Sciences
The National Academy of Sciences is a corporation in the United States whose members serve pro bono as "advisers to the nation on science, engineering, and medicine." As a national academy, new members of the organization are elected annually by current members, based on their distinguished and...
in the Economics Section.