In Passing: Robert Haugen, Prominent Economist
From Durango, Colo comes word of the death of Robert A Haugen, 70.
The Durango Herald reports Haugen, a graduate of Lane Tech in 1960, died Sun., Jan. 6.
Haugen and A. James Heins published data that demonstrated a low risk stocks produce higher returns than higher risk stocks, contradicting a basic understanding of investing and financing, the site notes.
Haugen went on to explore market inefficiencies and the Capital Asset Pricing Model, becoming a critic of both financial theories according to his Wikipedia entry.
The Durango Herald notes that Haugen served as an expert witness in the Reserve Mining case. That case established the ability of the Environmental Protection Agency to shut down activities that cause pollution.
Haugen is survived by his wife, Jan Bowler and his daughter Wendy, both of Durango. Sally Haughen Ellingsen of C'oeur d'Alene, ID, sister Marilyn Larson and Richard Haugen of the Chicago area and others.
Read the Obit from the Durango Herald
Read the summary of the Reserve Mining case from Minnesota Public Radio