John Pratt

John Winsor Pratt is Emeritus William Ziegler professor business administration at Harvard University. His former education was conducted at Princeton and Stanford, where he specialized in mathematics and statistics. Pratt spent most of his academic career at Harvard University. He was an editor of the Journal of the American Statistical Association from 1965 to 1970. His researches on risk aversion, risk sharing incentives, and the nature and discovery of stochastic laws, statistical relationships that describe the effects of decisions. He has made contributions to research in risk aversion theory, notably with Kenneth Arrow on measures of risk aversion.