Nobel Prize

Spectrum Auctions: There Is Elegance in the Mundane

As a student, Booth School Professor Anthony Lee Zhang was puzzled that Paul Milgrom chose to spend so much of his time...

Esther Duflo: How to Find the Right Questions

In this piece, originally published in 2011 by the American Economic Association's Committee on the Status of Women in the Economics Profession, Esther Duflo, co-recipient of...

Angus Deaton on the Under-Discussed Driver of Inequality in America: “It’s Easier for Rent-Seekers to Affect Policy Here Than In Much of Europe”

In an interview with ProMarket, Nobel Prize-winning economist Angus Deaton talks about the connection of rent-seeking and monopolization to rising inequality. In December, the United...

Oliver Hart and the Poetry of Economic Theory

At this year's annual ASSA meeting, Stigler Center Director Luigi Zingales delivered a lecture honoring Oliver Hart, winner of the 2016 Nobel Prize for economics. Read...

Richard Thaler and the Science of People

Richard Thaler's thought process and perspective on human behavior have influenced how we view economic phenomena and how they affect and are effected by people.     Earlier...

Can Narratives Shape Society?

Narratives that alter beliefs and change norms or guiding principles may indeed have real and lasting effects.  In the 2017 American Economic Association Presidential Address,...

The Role of Narratives in Economics

Narratives are vectors of ideas. Nobel laureate Robert Shiller suggests that in the age of social information networks, economists need to rethink how and...

The Power of Convictions

Oliver Hart and Bengt Holmstrom, winners of this year's Nobel Prize in Economics, created a new area of economic inquiry. They also had a profound...

LATEST NEWS

The “Conspiracy” of Consumer Welfare Theory

Matt Stoller argues there was a conspiracy. It was more of an association with a singular purpose.

Researchers Find Reduced Competition After Pandemic

The chart of the week comes from a new research paper that documents the increase in small business closures during the Covid...

Voters Still Believe Politics is About the Common Good, Not Just Rent-Seeking

Do voters still believe that politics can be a source for common-good policies and not just partisan bickering and rent-seeking? With political...

How to Design Data Protection Laws That Actually Work 

More and more countries are passing data protection laws, yet empirical studies show that these laws rarely deliver on their promises. A...

Are Monopolists or Cartels the True Source of Anticompetitive US Political Power?

Trade associations are often the biggest obstacles to competitive markets, especially when those organizations use their influence to change public policy in...