Nobel Prize in Economics

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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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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.... More »

Economists Demand 'Robin Hood' Tax on Speculators

Fee would go to fight poverty, climate change

(Newser) - Hundreds of the world's leading economists want banks to pay for the mess they've made—with an international " Robin Hood tax " that would raise funds to fight climate change and global poverty. Some 350 economists from 35 countries, including two Nobel prizewinners, have written to G20 leaders urging... More »

Legendary Economist Paul Samuelson Dead at 94

Nobel laureate write classic intro text for 'dismal science'

(Newser) - Paul A. Samuelson, the first American Nobel laureate in economics and a familiar name to generations of college students, died today at his home outside Boston. He was 94. Ben Bernanke praised his former MIT professor as "a titan of economics," and a colleague said of their fellow... More »

2 Americans Win Econ Nobel, Including 1st Woman

Professors cited for research into economic governance

(Newser) - The Nobel Prize in economics was awarded today to two US professors—one of whom is the first woman ever to win the prize—for their research into decision making in structures outside of markets. Elinor Ostrom, of the University of Indiana, was cited for her study of the commons,... More »

US Too Scared to Take On Monster Banks: Stiglitz

it's 'outrageous' bonuses aren't being curtailed, says economist

(Newser) - Underlying financial problems posed by ever-growing monster banks are worse now than before the economic crisis, but the Obama administration is reluctant to take them on, warns a Nobel Prize-winning economist. The so-called "too-big-to-fail banks" have become even bigger, and their troubles will further threaten the economy, Columbia University... More »

Reappoint Bernanke: Krugman

(Newser) - If there’s any justice, Ben Bernanke will get another go-around at the helm of the Federal Reserve, Paul Krugman tells Bloomberg. “He’s earned the right to a second term,” the Nobel laureate says. “When the banking system failed to deliver capital where it was needed,... More »

NYT's Krugman Wins Nobel Economic Prize

Globalization expert blames Bush for current crisis

(Newser) - Paul Krugman was awarded the Nobel Prize for Economics this morning, Reuters reports, in recognition for his work on globalization and free trade. Krugman, a New York Times columnist, Princeton professor, and staunch Bush critic, has long been a favorite for the award, but says it came as a surprise... More »

From Clerk to Rogue Trader to Facebook Laughingstock

SocGen fraudster's woes include poking

(Newser) - You don’t need a fancy education to lose $7.2 billion and become an Internet laughingstock. In the clubby world of French banking, Société Générale traders are usually the Gallic equivalent of Ivy League MBAs, but Jérôme Kerviel, a lowly biz school grad, worked... More »

3 Americans Share Nobel in Economics

Prize awarded for mechanism design theory

(Newser) - Americans Leonid Hurwicz, Eric Maskin, and Roger Myerson have won this year’s Nobel Prize in economics for developing "mechanism design theory,"  which indicates when markets are working effectively, Reuters reports. The theory can be used to assess the factors which make individuals and corporations deviate from... More »

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