The Economics of Uncertainty, or How I’m Connected to Borch and Clive Granger

Something funny happened this morning. A small chain of events led me to be in the possesion of Clive W. Granger‘s copy of Karl Henrik Borch‘s The Economics of Uncertainty (1968).

What’s so funny about that? Well, Karl Henrik Borch was a Norwegian economist who had a big influence on the development of my school, the Norwegian School of Economics and Business Administration; one of the auditoriums there is named after him. Academically, Borch played an important role in the development of insurance economics. Clive W. Granger was an economist from UC San Diego. He was a giant in econometrics and was awarded the Prize in Economic Sciences in Memory of Alfred Nobel in 2003. When I was a grad student at UCSD in 2007/2008, I was fortunate enough to meet Clive.

This morning I came across some leftover books from Clive’s office outside the Econ department at UCSD (I’m visiting here). Among them, I found Borch’s book. It feels almost morbid to have this book, but also, as a friend told me, it was a find and I am very happy with it.


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