Albert Madansky

Albert Madansky was a prominent American statistician who made significant contributions to the field of economics. His work focused on stock option pricing and the prediction of accidental nuclear detonations. Notably, he collaborated with Gary L. Gastineau to develop the Gastineau-Madansky model, a notable achievement in the realm of stock option pricing. Additionally, Madansky co-authored the Edmundson-Madansky theorem, further solidifying his expertise in the field.

Madansky's professional career included a stint at the RAND Corporation, where his early research played a role in the development of Permissive Action Links, a safety mechanism designed to prevent nuclear accidents. He also held an administrative position as deputy dean of the University of Chicago Booth School of Business from 1985 to 1993. Beyond his academic pursuits, Madansky was known to engage in more lighthearted endeavors, such as collaborating with fellow scholars to identify the best pastrami sandwich among New York City's Kosher delis. On a personal note, he was the grandfather of linguist Harris Mowbray.