David B. Hertz
David B. Hertz | |
|---|---|
| Born | circa 1919 |
| Died | Error: Need valid birth date (second date): year, month, day |
| Occupation(s) | Operations researcher, academic, lawyer |
| Years active | 1940s–2011 |
| Known for | Application of Monte Carlo methods in finance, models of managerial problems |
| Notable work | Electronics in Management; Risk Analysis in Capital Investment; Investment Policies That Pay Off |
David Bendel Hertz (circa 1919 – June 13, 2011) was a distinguished figure in operations research, acclaimed for his groundbreaking application of Monte Carlo techniques within financial contexts and for creating novel models addressing intricate managerial problems. His foundational research contributed significantly to understanding industrial research and development dynamics.
At the University of Miami, Hertz held multiple prominent positions, including distinguished professor of artificial intelligence, director of the Intelligent Computer Systems Research Institute, and professor specializing in management science and law. His leadership extended to serving as TIMS President in 1964 and ORSA President in 1974, alongside earning the George E. Kimball Medal in 1981. In 2002, he was honored as a fellow by INFORMS. Before his academic tenure, Hertz practiced law and was a partner at both McKinsey and Company and Arthur Andersen. He also taught at Columbia University and fulfilled duties as a U.S. Navy commander during the Second World War.
Hertz produced seminal publications across technology, management, and operations research fields, featuring works such as Electronics in Management (published in Management Science, 1965), Risk Analysis in Capital Investment (Harvard Business Review, 1964), and Investment Policies That Pay Off (Harvard Business Review, 1968).
His educational background encompasses a BA (1939), BS (1940), and PhD (1949) from Columbia University, an MS obtained from the U.S. Navy Postgraduate School (1944), and a JD from New York University School of Law (1984). His doctoral dissertation examined "The Theory and Practice of Industrial Research."
External links
- Profile: informs.org
- Biography of David B. Hertz from the Institute for Operations Research and the Management Sciences
- 2011 deaths
- 20th-century American mathematicians
- American financial economists
- American operations researchers
- Monte Carlo methodologists
- Corporate finance theorists
- New York University School of Law alumni
- Naval Postgraduate School alumni
- University of Miami faculty
- Columbia University faculty
- Fellows of the Institute for Operations Research and the Management Sciences
- 21st-century American mathematicians
- Columbia College (New York) alumni
- Columbia School of Engineering and Applied Science alumni
- McKinsey & Company people