Jack Hirshleifer, a prominent economist who had lived in Pacific Palisades since 1960, died on July 26 after a year-long battle with prostate cancer. He was 79. Born in Brooklyn, New York, on August 26, 1925, Jack was the son of Rose and Herman Hirshleifer, who owned Hirshleifer’s women’s apparel store in Brooklyn and later in Forest Hills. He attended Erasmus High, where he was elected class president and met his wife of 59 years, Phyllis Zimmerman. As a member of the U.S. Naval Reserve, Hirshleifer served on active duty during World War II as a radar officer on the aircraft carrier U.S.S. Hancock, which was situated off the coast of Japan at the time of the Japanese surrender. After his discharge, he received from Harvard University a B.S. degree in 1945 and a Ph.D. in economics in 1950. He was employed as an economist at The Rand Corporation in Santa Monica from 1949 to 1955. Thereafter he was a professor of economics at the University of Chicago from 1955 to 1960, and at UCLA until his “retirement” in 2001. He spent one sabbatical year at a research center in Palo Alto, and another at the Catholic University of Louvain in Brussels, Belgium. As a professor emeritus he continued an active research program, and continued to interact with many colleagues in different departments at UCLA. Hirshleifer was an economic theorist with broad-ranging interests. He made fundamental contributions to the theory of interest and capital, was considered to be one of the founding fathers of information economics; more recently he had expanded the scope of economic analysis with his work on bioeconomics and conflict. He authored seven books and over 70 significant articles, a number of which have become classics in economic theory. His books have been internationally influential and translated into many languages. In 2000, Hirshleifer was elected a Distinguished Fellow of the American Economic Association, one of the highest honors accorded to economic scholars. In tribute to his admission, the American Economic Review noted that “[f]rom among the many different approaches taken by economists, Hirshleifer’s stands out as a most noble path, to be admired and appreciated even by those who follow other roads. He is a true intellectual’full of bright-eyed curiosity, voracious to learn and understand, and without even a touch of snobbishness or pedantry. Above all, he is a meticulous scholar and true scientist, who believes that both science and words matter. Ideas must be carried to their logical conclusion, and words must be carefully chosen to express those ideas’.Jack Hirshleifer’s low-key manner, brilliant insight, and attention to detail mark him as a worthy addition to the company of Distinguished Fellows.” Jack was kind, loving and generous, had a quick wit and delightful sense of humor, and was a devoted family man. He took great pleasure in family activities, whether it was playing catch in the front yard, sharing amusing conversation during a dinner out, or admiring scenic drives through the towns and countryside of Europe. On an almost nightly basis he could be seen taking his evening walk along Sunset Boulevard, with or without the family German shepherd. In addition to his wife Phyllis, he is survived by sons John and David; daughters-in-law Linda and Siew Hong; and grandchildren Daniel, Rachel and Michael. He was also close to the New York branch of the Hirshleifer family. He was preceded in death two years earlier by his beloved younger brother, Paul. Jack leaves behind countless friends, colleagues, students and former students.
