It is an independent organization with no connections to societies of professional mathematicians or statisticians.
[1] As of 2014, there are about 700 Elected Fellows of the Econometric Society, making it one of the most prevalent research affiliations.
[3] The sixteen founding members were Ragnar Frisch, Charles F. Roos, Joseph A. Schumpeter, Harold Hotelling, Henry Schultz, Karl Menger, Edwin B. Wilson, Frederick C. Mills, William F. Ogburn, J. Harvey Rogers, Malcolm C. Rorty, Carl Snyder, Walter A. Shewhart, Øystein Ore, Ingvar Wedervang and Norbert Wiener.
Election as a Fellow of the Econometric Society is considered by much of the economics profession to be an honor.
[3] The Econometric Society sponsors several annual awards, in which the honored member delivers a lecture: