Nobel Prize in economics

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Economics Nobel Goes to Trio Who Explored Innovation

'We not only need to know that something works, but we also need to have scientific explanations for why'

(Newser) - Joel Mokyr, Philippe Aghion, and Peter Howitt won the Nobel memorial prize in economics Monday for "having explained innovation-driven economic growth." Mokyr is from Northwestern University, Aghion from the College de France and the London School of Economics, and Howitt from Brown University, reports the AP . The Nobel...

Economics Nobel Trio Found Inclusive Countries Prosper

Daron Acemoglu, Simon Johnson, James A. Robinson take home top economics prize

(Newser) - The Nobel Memorial Prize in Economic Sciences has been awarded to Daron Acemoglu, Simon Johnson, and James A. Robinson for research into differences in prosperity between nations. The three economists "have demonstrated the importance of societal institutions for a country's prosperity," the Nobel Committee of the Royal...

She Becomes the 3rd Woman to Win Economics Nobel

Harvard's Claudia Goldin is awarded for her work on women in the labor market

(Newser) - The Nobel economics prize has been awarded to Claudia Goldin, a professor at Harvard University, for what Nobel officials described as "groundbreaking research" in her work on women in the labor market. Goldin is only the third woman to win the prize, which was announced by Hans Ellegren, secretary-general...

Ben Bernanke Among Trio to Share This Year's Final Nobel

Nobel Prize in economics was awarded Monday

(Newser) - This year's Nobel Prize in economic sciences has been awarded to the former chair of the US Federal Reserve, Ben Bernanke, and two US-based economists, Douglas Diamond and Philip Dybvig, "for research on banks and financial crises." In announcing the prize Monday, the AP reports the committee...

Nobel Winners 'Completely Reshaped' Economics World

David Card, Joshua D. Angrist, Guido Imbens show 'many of society's big questions can be answered'

(Newser) - Three US-based researchers have been awarded the Nobel Prize in Economics for their work that shows "many of society's big questions can be answered," per the Nobel Committee . UC Berkeley's David Card has won half of the top prize "for his empirical contributions to labor...

Here's What Happens When You Sleep Through Your Nobel Call

Robert Wilson, who won economics prize, crossed the street in PJs to alert fellow winner Paul Milgrom

(Newser) - No one wants to hear their doorbell ring in the middle of the night, but Paul Milgrom will probably give Bob Wilson a pass. That's because Wilson, who won the Nobel Prize in Economics on Monday, was forced to trudge out in his pajamas to alert his Stanford colleague,...

Auction World Revolutionized by These Nobel Winners

Paul Milgrom, Robert Wilson take home Nobel Prize in Economics for their work in auction theory

(Newser) - Americans Paul R. Milgrom and Robert B. Wilson, both academics from Stanford University, have won the Nobel Prize in Economics and will split the $1.1 million prize for "improvements to auction theory and inventions of new auction formats." Technically known as the Sveriges Riksbank Prize in Economic...

Married Nobel Winners: No Shop Talk During Dinner

Abhijit Banerjee and Esther Duflo of MIT say their 2 kids won't have it

(Newser) - Abhijit Banerjee and Esther Duflo say they're just like any other married couple trying to juggle kids and work. One key difference: The Massachusetts Institute of Technology researchers each won the Nobel Economics Prize Monday , along with Michael Kremer of Harvard, for their work on alleviating poverty. Banerjee and...

Nobel Goes to Economists Studying Roots of Poverty

Esther Duflo is second-ever female winner

(Newser) - Three researchers with an "experimental approach to alleviating global poverty" have won this year's Nobel in economics, the Royal Swedish Academy of Sciences says. The prize was won by French-American researcher Esther Duflo, her fellow MIT researcher Abhijit Banerjee, and Michael Kremer at Harvard, the New York Times...

Nobel Winner Ignored Calls, Thinking They Were Spam

Paul Romer checked caller ID, saw they came from Sweden

(Newser) - One of the winners of this year's Nobel Prize in economics says he ignored two telephone calls before learning of his honor from Swedish Royal Academy of Sciences, per the AP . "I didn't answer either because I thought it was a spam call," said Paul Romer...

This Year's Economics Nobel Has a Specific Focus

US researchers Paul Romer and William Nordhaus work on climate change and economy

(Newser) - Two researchers at American universities have been awarded the Nobel Prize for their work on climate change's role in the world economy. Yale University's William Nordhaus was named for integrating climate change into long term macroeconomic analysis—as the Guardian notes, he is "the founder of environmental...

Nobel Economics Winner Knows Your Money Decisions Aren't Rational

Richard Thaler wins the Nobel

(Newser) - The winner of the Nobel economics prize says the most important impact of his work is "the recognition that economic agents are humans" and money decisions are not made strictly rationally. Richard Thaler , of the University of Chicago, was speaking in a phone call to a news conference...

Nobel Economics Winner: CEO Bonuses Are 'Too Complicated'

Oliver Hart of the UK and Bengt Holmstrom of Finland are pioneers in contract theory

(Newser) - British-born Oliver Hart and Bengt Holmstrom of Finland won the Nobel Memorial Prize in Economic Sciences for their contributions to contract theory, shedding light on how contracts help people deal with conflicting interests. The Royal Swedish Academy of Sciences said their theories "are valuable to the understanding of real-life...

Princeton Poverty Expert Wins Nobel in Economics

Angus Deaton 'surprised and delighted'

(Newser) - A Princeton professor renowned for his study of welfare, poverty, and individual consumer choices has won this year's Nobel in economics, reports the New York Times . In honoring Angus Deaton, 69, the Nobel panel noted that "to design economic policy that promotes welfare and reduces poverty, we must...

2014's Final Nobel Goes to French Economist

Jean Tirole 'breathed new life into research on such market failures'

(Newser) - French economist Jean Tirole won the Nobel Prize in economics today for research on market power and regulation. The Royal Swedish Academy of Sciences cites Tirole for clarifying "how to understand and regulate industries with a few powerful firms." Tirole, 61, works at the Toulouse School of Economics...

Economics Nobel Goes to 3 Americans

They developed new ways of studying asset price trends

(Newser) - Americans Eugene Fama, Lars Peter Hansen, and Robert Shiller today won the Nobel prize for economics for developing new methods to study trends in asset markets. The New York Times' simpler explainer: The three, who did not work together but were honored for their individual contributions on the subject, demonstrated...

2 Americans Win Economics Nobel for Strides in Matching

Winner of African governance prize: No one

(Newser) - Americans Alvin Roth and Peter Shapley have won the Nobel prize for economics on the strength of their work matching players in a wide range of markets, the Wall Street Journal reports. "For example, students have to be matched with schools, and donors of human organs with patients in...

First Woman to Win Nobel in Economics Dead at 78

Elinor Ostrom's work showed how citizens could manage natural resources

(Newser) - Elinor Ostrom, an Indiana University professor of political science and the first woman to win a Nobel Prize in economics, died of cancer this morning at age 78, a university spokesman announced today. Ostrom shared the 2009 Nobel Prize for economics with Oliver Williamson from the University of California Berkeley....

2 Americans Win Nobel Prize in Economics

Thomas Sargent, Christopher Sims studied effects of tax cuts, interest rate hikes

(Newser) - Americans Thomas Sargent and Christopher Sims won the Nobel economics prize today "for their empirical research on cause and effect in the macroeconomy," the Royal Swedish Academy of Sciences announced. The prize committee said the winners have developed methods for answering questions such as how economic growth and...

Obama Fed Nominee Wins Nobel in Economics

Shares award for work on unemployment

(Newser) - Americans Peter Diamond and Dale Mortensen and British-Cypriot citizen Christopher Pissarides won the 2010 Nobel economics prize today for developing theories that help explain how economic policies can affect unemployment. The Royal Swedish Academy of Sciences says the trio won the prestigious award "for their analysis of markets with...

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