Readers & Thinkers: The 2001 Nobel Prize in Economics. Post Analysis
Dear All, Our very own Dr. Joe Stiglitz “brought home the bacon”! This morning the Nobel prize in economics for 2001 was given to Dr. Joe Stiglitz of Columbia and FOLIOfn, Dr. George Akerlof of UC Berkeley, and Dr. Michael Spence of Stanford. This document will shed some light on why they won it. I have had the privilege of knowing two of them personally; Akerlof was my mentor at UC Berkeley and Stiglitz has worked with the research group at FOLIOfn for almost one year now. What did these men contribute to the field of economic sciences? All...
read moreReaders & Thinkers: The 2001 Nobel Prize in Economics. Prediction
Dear All: The Nobel Prize in Economics for 2001 will soon be announced. Who will it go to? (1) A group of economists (students and profs) think it might be DALE JORGENSON of Harvard. He’s the favorite. (2) My personal opinion is that it could go to two camps; the EXPERIMENTAL economics camp or the MICRO/UNCERTAINTY camp. If that’s true, my bets are on the following people: (a) EXPERIMENTAL: Joint win of Vernon Smith and Charles Plott. (b) MICRO/UNCERTAINTY: A combination of George Akerlof, Peter Diamond, and maybe Joe Stiglitz. If...
read moreReaders & Thinkers: The 2000 Nobel Prize in Economics. Post Analysis
Dear All: The Nobel Prize in economics was announced this morning. Despite my efforts and other people’s to predict the prize this year, we were wrong. WINNERS: James Heckman (CHICAGO) and Daniel McFadden (UC Berkeley) ON DAN MCFADDEN CONTRIBUTION: Dan McFadden was given the prize for his development of theory and methods for analyzing discrete choice models. Thus, he is primarily developed the statistical and mathematical rationales for certain tests that were used by him and many other economists to test theories and behavior....
read moreReaders & Thinkers: The 2000 Nobel Prize in Economics. Prediction
Dear All: Tomorrow morning is the announcment of the Nobel prize in economics. Please send your votes to ideas@foliofn.com by midnight tonight! Ludwig will take the winner out to lunch. Ludwig’s Guesses: I think the Nobel prize will be given in one of the following categories: (1) IO/Theory (2) Public Economics (3) Experimental Economics (4) Econometrics. Labor is also a possibility. For (1), I think the candidates are: Peter Diamond, George Akerlof, Michael Spence, and Joe Stiglitz (in order of likelihood). Oliver Hart would be a...
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