Dr. Richard Young was born on January 31, 1929, in Wisconsin. He graduated summa cum laude from the University of Minnesota. After four years in the US Navy, he earned his PhD in mathematical economics at Carnegie Mellon, then taught for the College of Business at Stanford University. In 1965, he joined the economics department at Rice University, teaching and doing research on economic optimization problems. After retiring as Professor Emeritus in 1991, he and his wife, Harriet, moved to Flagstaff, where he designed and built a home.<\/p>\n
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Professor Young\u2019s primary research area was operations research, which deals with the development and application of mathematical models designed to improve decision-making, often in a business management context. His work focused on analyzing the economic and mathematical theories underlying solutions to problems of constrained optimization, especially by businesses in the context of minimizing costs or maximizing profits. Much of his work examined discrete choice problems and algorithmic solutions to integer programming problems, with applications in economics and business management. His research also included analyses of pension systems and the application of game theory to energy economics.<\/p>\n
Dr. Young was chairman for the Doney Park Water Board (DPW) and was instrumental in creating a budget surplus for the first time in their history. Leading DPW was a major joy in his life, as were politics, riding his horse Doney, and watching the Dodgers. His wit and kindness will be missed by all who knew him.<\/p>\n
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