Roman Frydman is an

American American(s) may refer to: * American, something of, from, or related to the United States of America, commonly known as the "United States" or "America" ** Americans, citizens and nationals of the United States of America ** American ancestry, pe ...

Polish Polish may refer to: * Anything from or related to Poland, a country in Europe * Polish language * Poles Poles,, ; singular masculine: ''Polak'', singular feminine: ''Polka'' or Polish people, are a West Slavic nation and ethnic group, w ...

born

economist An economist is a professional and practitioner 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. Within this field there are ...

New York University New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then- Secretary of the Treasury Albert Gallatin. In 1832, th ...

and the author of more than ten books treating

macroeconomic Macroeconomics (from the Greek prefix ''makro-'' meaning "large" + ''economics'') is a branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes, and ...

theory and

privatization Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...

. Frydman's research, exemplified by his two recent books with Michael D. Goldberg, ''Imperfect Knowledge Economics: Exchange Rates and Risk'' (Princeton University Press, 2007) and ''Beyond Mechanical Markets: Asset Price, Swings, Risk, and the Role of the State'' (Princeton University Press, 2011), argues that markets cannot be predicted accurately by deterministic optimization models, particularly models promoted by adherents of the rational expectations hypothesis. Rather, Frydman argues that predictive models must take into account the role of contingent events, irrationality, imperfect knowledge and communication among the market participants. "Imperfect Knowledge Economics" presents a model that many critics have described as not only more flexible, but also more predictive of empirical events. Frydman left Poland in 1968, after antisemitic campaign of Polish March. He did his undergraduate studies in physics and mathematics at Cooper Union, graduating in 1971. After earning a master's degree in mathematics and computer science from New York University in 1973, he began studying economics at

Columbia University Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a private research university in New York City. Established in 1754 as King's College on the grounds of Trinity Church in Manhatt ...

, receiving a second master's degree in 1976 and a Ph.D. in 1978. After working in central Europe for many years, he returned to NYU as a faculty member in 1995. In 2001 he founded the Center on Capitalism & Society at Columbia with his frequent collaborator, Nobel Memorial Prize winner

Edmund Phelps Edmund Strother Phelps (born July 26, 1933) is an American economist and the recipient of the 2006 Nobel Memorial Prize in Economic Sciences. Early in his career, he became known for his research at Yale's Cowles Foundation in the first half of ...

.Edmund S. Phelps, Seminal Figure in Modern Economics, Wins Nobel Prize
Columbia University, October 9, 2006, retrieved 2011-01-26.

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* {{DEFAULTSORT:Frydman, Roman 1948 births Living people Polish emigrants to the United States 20th-century Polish Jews Macroeconomists Cooper Union alumni New York University alumni Columbia Graduate School of Arts and Sciences alumni New York University faculty 20th-century American economists 21st-century American economists Institute for New Economic Thinking