Dr. George Neumann

DR. GEORGE RICHARD NEUMANN

Iowa City

The world lost a giant on Oct. 26, 2015, when Dr. George Richard Neumann died at University of Iowa Hospitals & Clinics.

George was born in New York, N.Y., to George A. and Peggy Neumann, as the little brother to their daughter, Geraldine.

He married his college sweetheart, Margaret Paul, in 1969, and they had two daughters. George received his B.A. degree in economics from Le Moyne College and his M.A. degree and Ph.D. in economics from Northwestern University. During his lengthy career as a professor of economics, George taught at Penn State University, University of Chicago, Northwestern University, Cornell University, Princeton University, University of Aarhus and the University of Iowa.

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 is survived by his research and ideas, particularly prediction markets; his family-loving wife Margaret; beloved daughters, Franci (David) Klotz of Libertyville, Ill., and Josie of Iowa City; sister, Karen (Keith) Hoffer of Bardonia, N.Y.; brother, Paul Neumann of Park Ridge, N.J.; grandchildren, Mirielle and Tristan; brothers-in-law, Jim (Bernadette) Paul of Bloomingberg, N.Y., and Joe (Patty) Paul of Park Ridge, N.J.; 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 from 3 to 5 p.m. Saturday, Nov. 21, 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.