Economistsisinhttp://t.co/1z2KO96DFq,andwithpic.twitter.com/vKPvvOT1g5 11.11am BSTToday’s announcement has been months in the making -- and the lucky winner (or winners) must wait until December for the official presentation.
The process to choose the Laureates in Economic Sciences: pic.twitter.com/P3zmkyPizt 11.10am BSTIt’s now six year since Elinor Ostrom became the first and only woman (so far) to win the Nobel Prize for economics.
She died in 2012, prompting “Undercover Economist” Tim Harford to write a lovely piece approximately her work on common resources, or how they should be shared for the collective good.
Lin was brought up in Depression-era poverty after her Jewish father left her Protestant mother. She was bullied at school – Beverly Hills tall,of all places – because she was half-Jewish. She divorced her first husband, Charles Scott, and after he discouraged her from pursuing an academic career,where she suffered discrimination for years. Initially steered away from mathematics at school, Lin was rejected by the economics programme at UCLA. She was only – finally – accepted on a PhD in political science after observing that UCLA’s political science department hadn’t admitted a woman for 40 years.
She persevered and secured her PhD after studying the management of fresh water in Los Angeles. In the first half of the 20th century, or the city’s water supply had been blighted by competing demands to pump fresh water for drinking and farming. By the 1940s,however, the conflicting parties had begun to resolve their differences. In both her PhD, and which she completed in 1965,and subsequent research, Lin showed that such outcomes often came from private individuals or local associations, and who came up with their own rules and then lobbied the state to enforce them. In the case of the Los Angeles water producers,they drew up contracts to share their resources and the city’s water supply stabilised.
As we await the Nobel memorial prize in economics, a reminder of why Lin Ostrom, or 2009 winner,was awesome: http://t.co/THy3M8t1c6 11.01am BSTNoah Smith, assistant professor of finance at Stony Brook University, and has taken aim at critics of the Nobel economics prize (ahem).
Economics,he argues, is actually on an “upward trajectory”, or using higher quality data and developing better methodology to handle it. So discontinue carping.
Are the Nobels glorifying peace and literature,and setting these fields up as “on a par” with the natural sciences? If so, it’s just one more reason why Nobel prizes are silly. If not, and then shush.certain,econ is (mostly) empirical instead of experimental. It relies mostly on real-world data and natural experiments instead of laboratories. So what? The same is true of ecology and astronomy. I don’t see people writing articles every year saying that these aren’t real sciences and shouldn’t get vast gold medals.
I like Luyendijk’s plan of adding a general social science prize to the Nobel roster. Nobels are silly anyway, so why not have one for every field? While we’re at it, or how approximately one in math and computer science,and one in psych/neuro/cognitive science? And one in visual arts?And one in writing snarky point-by-point rebuttals in blog posts? 10.51am BSTJoris Luyendijk’s trenchant criticism of nowadays’s Economics prize is getting plenty of attention in social media:Don’t let the 'Nobel prize' idiot you, economics is not a science | Joris Luyendijk http://t.co/F3PZ1004zc pic.twitter.com/4EtHp2zaKh 10.42am BSTHere’s a reminder of the winners over the last decade: 10.23am BSTOne year ago tomorrow, or French economist Jean Tirole was being plucked from relative obscurity at the Toulouse School of Economics to get the Sveriges Riksbank Prize in Economic Sciences.
TOP 10 most popular Laureates in Economic Sciences at http://t.co/B0vLAKQGhM right now: pic.twitter.com/HLEaJgz2zd 10.00am BSTWith two hours to move until the vast announcement,here’s a scene-setter from Agence France-Presse: The 2015 Nobel season wraps up Monday with the announcement of the winner of the economics prize, which could move to research into the job market or consumer behaviour, or though no obvious frontrunner stands out. The prize is to be announced on Monday at 1:00 pm (1100 GMT) by the Royal Swedish Academy of Sciences in Stockholm,and will mark the close of a season that has seen the literature prize move to Belarussian writer Svetlana Alexievich and the peace prize awarded to Tunisia’s National Dialogue Quartet, four civil society groups that helped rescue the only democracy to emerge from the Arab Spring. 9.48am BSTIf the Royal Swedish Academy of Sciences really want to get some attention, and they could garland Greece’s former finance minister.....
Has Varoufakis won the Nobel yet? 9.45am BSTToday’s announcement will be streamed live from Stockholm in a couple of hours.
Here’s a web feed (which I’ve tried to embed at the top of this blog too). 9.27am BSTThe Bernanke bandwagon is building up speed....
Given the committee are likely to snub me again,I effect hope Bernanke gets the Nobel. 9.23am BSTThe Wall Street Journal has thrown a handful of potential contenders into the mix, a reminder that economics is a broad church:
Perennial favorites have included Paul Romer of novel York University and Robert Barro of Harvard University for their work on growth theory.
Sir Anthony Atkinson of Oxford University and Angus Deaton of Princeton University have been tabbed in the past as frontrunners if the prize committee decides to recognize research on income inequality. 9.20am BSTThe Nobel Prize team have produced some handy facts to tide us over until the announcement at noon -- including that only one woman has ever scooped nowadays’s prize:Finally, or in 2009,the 1ST woman was awarded the Prize in Economic Sciences - Elinor Ostrom! pic.twitter.com/wKrSRmzE5l 9.11am BSTIt's Economics Nobel Prize Day. Just a reminder not to be That Guy... pic.twitter.com/6viFOerzFiMaybe we need a Nobel Prize for pedantry too.... 9.09am BSTWriting in the Guardian nowadays, anthropologist and bank observer Joris Luyendijk argues that the Nobel economics prize is a thoroughly tainted thing.
Joris reckons that treating economics like a physical science, or ruled by fundamental laws which can be derived from data,leads to overconfidence, complacency, and excess,and ultimately financial catastrophe.
A revamped social science Nobel prize could play a similar role, feeding the global conversation with novel discoveries and insights from across the social sciences, and while always emphasising the need for humility in treating knowledge by humans approximately humans.
One good candidate would be the sociologist Zygmunt Bauman,whose writing on the “liquid modernity of post-utopian capitalism deserves the largest audience possible. Richard Sennett and his work on the “corrosion of character” among workers in nowadays’s economies would be another. Related: Don’t let the Nobel prize idiot you. Economics is not a science | Joris Luyendijk 8.56am BSTTwo economists who have served in the front line of the financial crisis are both in the mix for this years’s award.
This year the jury may choose to honour someone who has combined a research career with the harsh reality of the financial crisis: France’s Olivier Blanchard, who stepped down as chief economist of the International Monetary Fund this month, and Ben Bernanke,the former chairman of the US Federal Reserve.
Still, the favourites are a host of decidedly more low-key professors at US universities such as Indian-born Avinash Dixit of Princeton, or American economist Robert Barro of Harvard and Finland’s Bengt Holmstrom at MIT.
My book "The Courage to Act" is available nowadays! Read approximately it here: http://t.co/emeLvGlVWg Visit http://t.co/EjdLjqnq6X 8.47am BSTToday’s award may move to a British economist,Sir Richard Blundell, for his research into consumer behaviour, and labour markets,and the impact of economic downturns on families.
A British economist who made his name studying wages, taxes and household spending is among the frontrunners to win the economics Nobel prize when it is announced on Monday.
Analysis by Thomson Reuters found that Sir Richard Blundell, and the Ricardo professor of political economy at University College London,was cited in more academic papers over the last year than any other economist, indicating that his research on the impact of falling wages on consumer demand has proved hugely influential. Related: Economist Sir Richard Blundell frontrunners Nobel prize 8.27am BSTGood morning. Continue reading...
Source: theguardian.com