Chief Pricing Officer

In the price optimization industry, the term “econometrics” is often used to describe the application of economics (namely mathematical and statistical techniques) in the study of problems and the relationships among data. The first known use of the term “econometrics” was by Pawel Ciompa in 1910, but Ragnar Frisch is given credit for coining the term in the sense that it is used today.^[2] An econometrician (say that three times fast) is someone who studies and applies econometrics. If you ever bump into an econometrician standing in line at the airport sitting next you at the bar, here’s one to pass the time:

Three econometricians went out deer hunting and came across a large buck. The first econometrician fired, but missed by a meter to the left. Then the second econometrician fired, but also missed, this time by a meter to the right. So the third econometrician simply put down his gun and shouted in triumph: “We hit it!  We hit it!”