Dr. George Richard Neumann
NEUMANN, KLOTZ, HOFFER, PAUL
Posted By: Sarah Fletcher (email)
Date: 11/5/2015 at 13:31:32
The world lost a giant on October 26, 2015, when Dr. George Richard Neumann died at the University of Iowa Hospitals & Clinics. George was born in New York, NY, to George A. and Peggy Neumann, as the little brother to their daughter Geraldine.
George received his bachelor’s degree in Economics from Le Moyne College, where he met the love of his life, Margaret. They married in 1969, and embarked together on a journey of higher education at Northwestern University in Evanston, IL, where he received his M.A. and Ph.D. in Economics, in 1969 and 1974, respectively. After graduation, he joined the faculty at Penn State University as an Assistant Professor and later joined the Graduate School of Business at the University of Chicago eventually being named Associate Professor.
Ever curious in his quest for knowledge, George continued his education by becoming a father to Francine Spirit, in 1976, and Joanna Rose, in 1984. He joined the faculty at Iowa in the Business School’s Department of Economics and Industrial Relations in 1984. There, he acted as the DEO of the Economics Department from 1987-90 and served on a number of university committees. He was named the George Daly Research Professor in Economics in 1997 and held that position until his retirement in May of 2015.
Dr. Neumann was part of the faculty team from Iowa that founded the Iowa Electronics Market (IEM) in 1988. His impressive research career focused heavily on labor, economics, and political markets and his work was published in such publications as Econometrica, the Quarterly Journal of Economics, and the American Economic Review. In his career, he served as an associate editor of the Journal of Labor Economics and as a member of the American Economic Association, American Statistical Association, Econometric Society, Industrial Relations Research Association, and Mathematical Association of America. He was a referee for an extensive list of journals and served as a consultant to such organizations at the U.S. Department of Labor, the U.S. Department of the Interior, the National Science Foundation, and the Executive Office of the President’s Council on Wages and Price Stability.
He was well known as a storyteller, gourmand, sartorialist, patron of the arts, and general bon vivant. He relished every chance he got to teach someone how to properly make his drink, and devoured every printed word put in front of him.
He is survived by his research and ideas—particularly prediction markets; his family—loving wife Margaret, beloved daughters Franci (David) Klotz of Libertyville, IL, and Josie of Iowa City, sister Karen (Keith) Hoffer of Bardonia, NY, brother Paul Neumann of Park Ridge, NJ; grandchildren Mirielle and Tristan; brothers-in-law, Jim (Bernadette) Paul of Bloomingberg, NY and Joe (Patty) Paul of Park Ridge, NJ: and everyone who benefitted from his quick wit and guidance, and most importantly, by the spirits of generosity and kindness. He was preceded in death by his parents and sister, Geraldine.
A memorial gathering will be held November 21st, Saturday from 1 to 3PM at the Ashton House, 820 West Park Rd, Iowa City. In lieu of flowers, the family requests that donations be made to the University of Iowa Foundation c/o Hancher Fund. Arrangements are with Lensing Funeral & Cremation Service where condolences can be left at www.lensingfuneral.com
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