Nobel Winners

In an odd choice, the Royal Swedish Academy awarded the Nobel Prize in economics to Eugene Fama, whose life’s work shows that markets are rational in the short run, to Robert Shiller, who says that markets are often irrational over long periods, and to Peter Hansen, who developed a statistical approach to study asset prices,…

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Nobel Prize Prognostications

With the Nobel in economics to be awarded next week, here’s my list of candidates: Bhagwati and Dixit for research in international trade, Barro and Romer for growth econ, Hart for transactional econ, Nordhaus and Weitzman for environmental econ, Fama and French for financial econ, Shiller and Thaler for behavioral econ, Diamond for financial intermediation,…

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