2015 Nobel laureate Angus Deaton

Angus Deaton is the worthy and deserving winner of this year’s economics Nobel. The arc of his work, from theory to data to empirical application, has been consumption, measuring consumption, and consumption as an indicator of well-being, poverty, and inequality. His analyses also incorporate political economy as a factor influencing those relationships and incentives. If … More 2015 Nobel laureate Angus Deaton

Roth/Shapley Nobel

Lynne Kiesling I have little to add to today’s congratulations to Al Roth and Lloyd Shapley for this year’s Nobel; Peter Klein has a useful roundup of links to good commentary, with a namecheck to us, in his link to his discussion of market design back in 2007 (thanks!). Mike’s frequent posts on price gouging … More Roth/Shapley Nobel

Sargent-Sims Nobel 2011

Lynne Kiesling Congratulations to Thomas Sargent and Christopher Sims for the 2011 economics Nobel. Marginal Revolution has developed a well-deserved reputation for go-to commentary on the Nobel; see Alex’s overview, Tyler’s comments on Sargent, and Tyler’s comments on Sims. Note also the Tyler points out Sargent’s work in economic history (his “small change” book with … More Sargent-Sims Nobel 2011

Vincent and Elinor Ostrom and public ownership of natural resources

Michael Giberson Among the news stories in response to Elinor Ostrom’s sharing of the Nobel prize for economics, an article from Alaska which mentions the important role played by Vincent Ostrom in the development of that state’s treatment of natural resources.  Both Ostroms worked on related ideas and management of natural resources was central to … More Vincent and Elinor Ostrom and public ownership of natural resources

Paul Romer on the Nobel

Lynne Kiesling Wow. Paul Romer’s blog post congratulating Elinor Ostrom for yesterday’s Nobel is dramatic. And, in my view, entirely accurate. I really appreciate his “skyhooks and cranes” invocation: Most economists think that they are building cranes that suspend important theoretical structures from a base that is firmly grounded in first principles. In fact, they … More Paul Romer on the Nobel

Henderson, Smith on the Nobel and its implications for economics

Lynne Kiesling Today David Henderson has penned the traditional Wall Street Journal commentary on yesterday’s Nobel award to Elinor Ostrom and Oliver Williamson. He provides an excellent summary of the importance of their work, and I recommend it to you highly. In fact, David’s theme reconciles what some commenters have observed as a political or … More Henderson, Smith on the Nobel and its implications for economics