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{{short description|American academic (1919-2019)}}
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'''David Bendel Hertz''' (born c. 1919, died June 13, 2011, aged 92) was an [[operations research]] practitioner and academic, known for various contributions to the discipline, and specifically, and more widely,<ref>[http://pages.stern.nyu.edu/~adamodar/pdfiles/papers/probabilistic.pdf]</ref> for pioneering the use of [[Monte Carlo methods in finance]]. <ref>http://www.legacy.com/obituaries/herald/obituary.aspx?n=DAVID-HERTZ&pid=151978401</ref> He developed innovative modeling approaches for the solution of complex management issues. His earliest publications added insights to the industrial process of research and development. <ref>[http://www.informs.org/About-INFORMS/History-and-Traditions/Miser-Harris-Presidential-Portrait-Gallery/David-B.-Hertz]</ref>
{{Infobox scientist
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| name =
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| birth_name = David Bendel Hertz
| birth_date = {{birth year|1919}}
| birth_place =
| death_date = June 13, {{death year and age|2011|1919}}
| death_place =
| nationality = [[United States|American]]
| fields = [[Operations research]]
| workplaces = [[University of Miami]]<br>[[Columbia University]]
| alma_mater = [[Columbia University]]<br>[[Naval Postgraduate School]]<br>[[New York University]]
| thesis_title =
| thesis_url =
| thesis_year =
| doctoral_advisor =
| doctoral_students =
| known_for = Pioneering the use of [[Monte Carlo methods in finance]]
| awards = [[George E. Kimball Medal]] (1981)
| image_upright =
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}}


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'''David Bendel Hertz''' (c. 1919 &ndash; June 13, 2011)<ref name="MH">{{cite web|url=http://www.legacy.com/obituaries/herald/obituary.aspx?n=DAVID-HERTZ&pid=151978401 |title=DAVID BENDEL HERTZ Obituary: View DAVID HERTZ's Obituary by The Miami Herald |publisher=Legacy.com |date=2011-06-13 |accessdate=2012-01-11}}</ref> was an [[operations research]] practitioner and academic, known for various contributions to the discipline, and specifically, and more widely,<ref>[[Aswath Damodaran]]: [http://pages.stern.nyu.edu/~adamodar/pdfiles/papers/probabilistic.pdf Probabilistic Approaches: Scenario Analysis, Decision Trees and Simulations]</ref> for pioneering the use of [[Monte Carlo methods in finance]]. He developed innovative modeling approaches for the solution of complex management issues. His earliest publications added insights to the industrial process of research and development.<ref name="INFORMS">{{cite web|url=http://www.informs.org/About-INFORMS/History-and-Traditions/Miser-Harris-Presidential-Portrait-Gallery/David-B.-Hertz |title=David B. Hertz / Miser-Harris Presidential Portrait Gallery / History and Traditions / About INFORMS / IOL Home |publisher=INFORMS.org |date=2011-06-13 |accessdate=2012-01-11}}</ref>
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He was a Professor at the [[University of Miami]]: [[Distinguished professor]] of [[Artificial intelligence]], director of the UM Intelligent Computer Systems Research Institute and a professor of management science and law.<ref>[http://bus.miami.edu/magazine/fall2011/alumni-news/class_notes.html]</ref> He had been a practicing [[lawyer]], and a Partner in [[McKinsey and Company]] and [[Arthur Andersen]] Company. <ref>[http://www.hbsp.harvard.edu/hbsp/hbr/articles/article.jsp?articleID=68107&ml_action=get-article&print=true]</ref>. He served as [[The Institute of Management Sciences|TIMS]] President (1964), [[Operations Research Society of America|ORSA]] President (1974), and was a recipient of the [[Institute_for_Operations_Research_and_the_Management_Sciences#Awards|Kimball Medal]] (1981). He was also a fellow of [[INFORMS]] (2002) <ref>[http://www.informs.org/article.php?id=932]</ref>.


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He was a professor at the [[University of Miami]], where he was distinguished professor of [[artificial intelligence]], director of the University of Miami Intelligent Computer Systems Research Institute, and a professor of management science and law.<ref>{{cite web|url=http://bus.miami.edu/magazine/fall2011/alumni-news/class_notes.html |title=Class Notes |publisher=Bus.miami.edu |date= |accessdate=2012-01-11}}</ref> He served as [[The Institute of Management Sciences|TIMS]] President (1964), [[Operations Research Society of America|ORSA]] President (1974), and was a recipient of the [[George E. Kimball Medal]] (1981). He was also a fellow of [[INFORMS]] (2002).<ref name="INFORMS"/> Previously, he had been a practicing [[lawyer]], and a partner at [[McKinsey and Company]] and at [[Arthur Andersen]] Company. He was also a professor at [[Columbia University]]. He served as a commander in the [[U.S. Navy]] during World War II.<ref name="MH"/> He was affectionately nicknamed "Cuz-Cuz" by his peers.
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He is published and cited in various Journals on technology, management and operations research, and has authored several textbooks. His most widely cited papers include [http://scholar.google.co.za/scholar?as_q=&num=50&btnG=Search+Scholar&as_epq=&as_oq=&as_eq=&as_occt=any&as_sauthors=DB+Hertz&as_publication=&as_ylo=&as_yhi=&as_allsubj=some&as_subj=bus&as_subj=eng&hl=en&lr=] ''[http://links.jstor.org/sici?sici=0025-1909(196502)11%3A4%3CB59%3AEIM%3E2.0.CO%3B2-B Electronics in Management]'' (''Management Science'', February 1965),

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''[http://harvardbusinessonline.hbsp.harvard.edu/b02/en/common/item_detail.jhtml;jsessionid=QPUXANOP2LVP4AKRGWDSELQBKE0YIISW?id=79504&referral=7855 Risk Analysis in Capital Investment]'' (''[[Harvard Business Review]]'', January/February 1964) and ''[http://harvardbusinessonline.hbsp.harvard.edu/b02/en/common/item_detail.jhtml;jsessionid=QPUXANOP2LVP4AKRGWDSELQBKE0YIISW?id=79504&referral=7855 Investment Policies That Pay Off]'' (''[[Harvard Business Review]]'', January/February 1968).
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He is published and cited in various journals on technology, management and operations research, and has authored several textbooks. His most widely cited papers include [https://scholar.google.co.za/scholar?as_q=&num=50&btnG=Search+Scholar&as_epq=&as_oq=&as_eq=&as_occt=any&as_sauthors=DB+Hertz&as_publication=&as_ylo=&as_yhi=&as_allsubj=some&as_subj=bus&as_subj=eng&hl=en&lr=] ''[https://www.jstor.org/stable/2628011 Electronics in Management]'' (''Management Science'', February 1965),
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''[http://harvardbusinessonline.hbsp.harvard.edu/b02/en/common/item_detail.jhtml;jsessionid=QPUXANOP2LVP4AKRGWDSELQBKE0YIISW?id=79504&referral=7855 Risk Analysis in Capital Investment]'' (''[[Harvard Business Review]]'', January/February 1964) and ''[http://harvardbusinessonline.hbsp.harvard.edu/b02/en/common/item_detail.jhtml;jsessionid=QPUXANOP2LVP4AKRGWDSELQBKE0YIISW?id=79504&referral=7855 Investment Policies That Pay Off]'' (''[[Harvard Business Review]]'', January/February 1968).<!-- Lived briefly in [[Pennsylvania]].-->

He earned his [[Bachelor of Arts|BA]] (1939),<ref>{{Cite web |title=Obituaries {{!}} Columbia College Today |url=https://www.college.columbia.edu/cct/archive/fall11/obituaries |access-date=2022-06-29 |website=www.college.columbia.edu}}</ref> [[Bachelor of Science|BS]] (1940), and [[PhD]] (1949) at Columbia,<ref>{{Cite journal |last=Hertz |first=David B. |date=2009-03-18 |title=THE METHOD OF RESEARCH: The Analysis, Organization, and Determination of Resources Required for Undertaking a Research Problem are Discussed and Defined |url=https://onlinelibrary.wiley.com/doi/10.1111/j.1559-3584.1949.tb02662.x |journal=Journal of the American Society for Naval Engineers |language=en |volume=61 |issue=4 |pages=869–882 |doi=10.1111/j.1559-3584.1949.tb02662.x}}</ref> as well as an [[Master of Science|MS]] from the [[Naval Postgraduate School|U.S. Navy Postgraduate School]] (1944) and a [[Juris Doctor|JD]] from [[New York University Law School]] (1984).<ref>Baker, E. and Plant, R.T., "A Profile of David Bendel Hertz". in Profiles in Operations Research, Arjang A. Assad and Saul I. Gass, editors. International Series in Operations Research and Management. Springer Publishing, (pp. 403-413) 2011</ref> His PhD in [[Mathematics]] addressed "The Theory and Practice of Industrial Research".<ref>{{MathGenealogy|73664}}</ref>


His [[Ph.D.]] in [[Mathematics]] from [[Columbia University]] (1953) discussed "The Theory and Practice of Industrial Research" <ref>[http://www.genealogy.ams.org/id.php?id=73664]</ref>.
==References==
==References==
{{reflist}}
{{reflist}}

==External links==
==External links==
*[http://www.informs.org/About-INFORMS/History-and-Traditions/Miser-Harris-Presidential-Portrait-Gallery/David-B.-Hertz Profile: informs.org]
*[http://www.informs.org/About-INFORMS/History-and-Traditions/Miser-Harris-Presidential-Portrait-Gallery/David-B.-Hertz Profile: informs.org]
*[https://www.informs.org/About-INFORMS/History-and-Traditions/Biographical-Profiles/Hertz-David-B Biography of David B. Hertz] from the Institute for Operations Research and the Management Sciences

{{authority control}}


{{Persondata <!-- Metadata: see [[Wikipedia:Persondata]]. -->
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| NAME = Hertz, David
| ALTERNATIVE NAMES =
| SHORT DESCRIPTION =
| DATE OF BIRTH =
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{{DEFAULTSORT:Hertz, David}}
{{DEFAULTSORT:Hertz, David}}
[[Category:American mathematicians]]
[[Category:Year of birth uncertain]]
[[Category:Financial economists]]
[[Category:2011 deaths]]
[[Category:Operations researchers]]
[[Category:20th-century American mathematicians]]
[[Category:American financial economists]]
[[Category:American operations researchers]]
[[Category:Monte Carlo methodologists]]
[[Category:Monte Carlo methodologists]]
[[Category:Corporate finance theorists]]
[[Category:Corporate finance theorists]]
[[Category:Columbia University alumni]]
[[Category:New York University School of Law alumni]]
[[Category:Naval Postgraduate School alumni]]
[[Category:University of Miami faculty]]
[[Category:University of Miami faculty]]
[[Category:2011 deaths]]
[[Category:Columbia University faculty]]
[[Category:Fellows of the Institute for Operations Research and the Management Sciences]]
[[Category:Year of birth missing]]
[[Category:21st-century American mathematicians]]
[[Category:Columbia College (New York) alumni]]
[[Category:Columbia School of Engineering and Applied Science alumni]]
[[Category:McKinsey & Company people]]


{{US-mathematician-stub}}
{{US-mathematician-stub}}

Latest revision as of 04:11, 20 July 2024

David B. Hertz
Born
David Bendel Hertz

1919 (1919)
DiedJune 13, 2011 (aged 91–92)
NationalityAmerican
Alma materColumbia University
Naval Postgraduate School
New York University
Known forPioneering the use of Monte Carlo methods in finance
AwardsGeorge E. Kimball Medal (1981)
Scientific career
FieldsOperations research
InstitutionsUniversity of Miami
Columbia University

David Bendel Hertz (c. 1919 – June 13, 2011)[1] was an operations research practitioner and academic, known for various contributions to the discipline, and specifically, and more widely,[2] for pioneering the use of Monte Carlo methods in finance. He developed innovative modeling approaches for the solution of complex management issues. His earliest publications added insights to the industrial process of research and development.[3]

He was a professor at the University of Miami, where he was distinguished professor of artificial intelligence, director of the University of Miami Intelligent Computer Systems Research Institute, and a professor of management science and law.[4] He served as TIMS President (1964), ORSA President (1974), and was a recipient of the George E. Kimball Medal (1981). He was also a fellow of INFORMS (2002).[3] Previously, he had been a practicing lawyer, and a partner at McKinsey and Company and at Arthur Andersen Company. He was also a professor at Columbia University. He served as a commander in the U.S. Navy during World War II.[1] He was affectionately nicknamed "Cuz-Cuz" by his peers.

He is published and cited in various journals on technology, management and operations research, and has authored several textbooks. His most widely cited papers include [1] Electronics in Management (Management Science, February 1965), Risk Analysis in Capital Investment (Harvard Business Review, January/February 1964) and Investment Policies That Pay Off (Harvard Business Review, January/February 1968).

He earned his BA (1939),[5] BS (1940), and PhD (1949) at Columbia,[6] as well as an MS from the U.S. Navy Postgraduate School (1944) and a JD from New York University Law School (1984).[7] His PhD in Mathematics addressed "The Theory and Practice of Industrial Research".[8]

References

[edit]
  1. ^ a b "DAVID BENDEL HERTZ Obituary: View DAVID HERTZ's Obituary by The Miami Herald". Legacy.com. 2011-06-13. Retrieved 2012-01-11.
  2. ^ Aswath Damodaran: Probabilistic Approaches: Scenario Analysis, Decision Trees and Simulations
  3. ^ a b "David B. Hertz / Miser-Harris Presidential Portrait Gallery / History and Traditions / About INFORMS / IOL Home". INFORMS.org. 2011-06-13. Retrieved 2012-01-11.
  4. ^ "Class Notes". Bus.miami.edu. Retrieved 2012-01-11.
  5. ^ "Obituaries | Columbia College Today". www.college.columbia.edu. Retrieved 2022-06-29.
  6. ^ Hertz, David B. (2009-03-18). "THE METHOD OF RESEARCH: The Analysis, Organization, and Determination of Resources Required for Undertaking a Research Problem are Discussed and Defined". Journal of the American Society for Naval Engineers. 61 (4): 869–882. doi:10.1111/j.1559-3584.1949.tb02662.x.
  7. ^ Baker, E. and Plant, R.T., "A Profile of David Bendel Hertz". in Profiles in Operations Research, Arjang A. Assad and Saul I. Gass, editors. International Series in Operations Research and Management. Springer Publishing, (pp. 403-413) 2011
  8. ^ David B. Hertz at the Mathematics Genealogy Project
[edit]
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