Whoops! Usually today I'm supposed to stay home and cover the winner of the economics Nobel Prize. But I'm on a plane home from Paris as the prize is announced and I am not landing for many hours.
Alex may well provide coverage of his own, but in the meantime please leave your discussion and analysis here in the comments.
I remember last year when one reporter at a prominent newspaper said to me: "If it's Lars Hansen you *are* going to explain to us what he did in plain English, right?" Well…if Lars is going to win it, here's hoping that this is the year.
The Nobel Prize goes to Williamson and Ostrom. Well deserved!
Äntligen!
(this comment would have been more fun for the peace price)
What does Äntligen mean?
Äntligen = Finally.
Gert Fylking is Swedish comedian who shouts that each year when the literature price is revealed. The Nobel price committee tries to stop him from attending. Not sure if they succeeded this year.
First woman to win it, pretty impressive.
Am I the only person who gets annoyed at being told Ostrom is the first woman to win the prize? She got it for very, very good work–work that may well be making the world a better place. She didn’t get it for her chromosomal make-up. If she did, the prize would be cheapened.
These are well deserved. Should be no criticisms from anybody.
Williamson is indeed the most cited economist of all time, and
while others may have made some of the key distinctions leading
to Elinor Ostrom’s work, she has been far ahead of others in putting
it all together, including with strong experimental work to support
the ideas. And the work of the two recipients are related.
I don’t think the Nobel Econ selections have been nearly as political as the other prizes or as implied by the latter two questions, so I agree that these are unfair to Krugman et al. There are two symmetrical templates for the reaction following these selections, so I am amused when the templates are switched from “what a bunch of game-playing frauds
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