IDEAS home Printed from https://ideas.repec.org/a/sae/amerec/v64y2019i2p167-182.html
   My bibliography  Save this article

The Nobel Prize in Economics Turns 50

Author

Listed:
  • Allen R. Sanderson
  • John J. Siegfried

Abstract

The first Sveriges Riksbank Prizes in Economic Sciences in Memory of Alfred Nobel were awarded in 1969, 50 years ago. In this essay, we provide the historical origins of this sixth “Nobel†field, background information on the recipients, their nationalities, educational backgrounds, institutional affiliations, and collaborations with their esteemed colleagues. We describe the contributions of a sample of laureates to economics and the social and political world around them. We also address—and speculate—on both some of their could-have-been contemporaries who were not chosen, as well as directions the field of economics and its practitioners are possibly headed in the years ahead, and thus where future laureates may be found. JEL Classifications : A1, B3

Suggested Citation

  • Allen R. Sanderson & John J. Siegfried, 2019. "The Nobel Prize in Economics Turns 50," The American Economist, Sage Publications, vol. 64(2), pages 167-182, October.
    • Handle: RePEc:sae:amerec:v:64:y:2019:i:2:p:167-182
    DOI: 10.1177/0569434519852429
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/0569434519852429
    Download Restriction: no
    File URL: https://libkey.io/10.1177/0569434519852429?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Angus Deaton, 2015. "The Great Escape: Health, Wealth, and the Origins of Inequality," Economics Books, Princeton University Press, edition 1, number 10054.
    2. Thorstein Veblen, 1899. "Mr. Cummings's Strictures on "The Theory of the Leisure Class"," Journal of Political Economy, University of Chicago Press, vol. 8, pages 106-106.
    3. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    4. Bowman, Mary Jean, 1980. " On Theodore W. Schultz's Contributions to Economics," Scandinavian Journal of Economics, Wiley Blackwell, vol. 82(11), pages 80-107.
    5. Milton Friedman & Anna J. Schwartz, 1963. "A Monetary History of the United States, 1867–1960," NBER Books, National Bureau of Economic Research, Inc, number frie63-1, March.
    6. Veblen, Thorstein, 1899. "The Theory of the Leisure Class," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1899.
    7. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    8. Rosen, Sherwin, 1981. "The Economics of Superstars," American Economic Review, American Economic Association, vol. 71(5), pages 845-858, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Benno Torgler & Sascha L. Schmidt & Bruno S. Frey, 2006. "The Power of Positional Concerns: A Panel Analysis," CREMA Working Paper Series 2006-19, Center for Research in Economics, Management and the Arts (CREMA).
    2. Marco Guerzoni & Massimiliano Nuccio, 2014. "Music consumption at the dawn of the music industry: the rise of a cultural fad," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 38(2), pages 145-171, May.
    3. Benno Torgler & Sascha L. Schmidt & Bruno S. Frey, 2006. "Relative Income Position And Performance: An Empirical Panel Analysis," IEW - Working Papers 268, Institute for Empirical Research in Economics - University of Zurich.
    4. Jeroen Bergh, 2007. "Evolutionary thinking in environmental economics," Journal of Evolutionary Economics, Springer, vol. 17(5), pages 521-549, October.
    5. Benno Torgler & Justina A.V. Fischer, 2006. "Does Envy Destroy Social Fundamentals? The Impact of Relative Income Position on Social Capital," Working Papers 2006.38, Fondazione Eni Enrico Mattei.
    6. Benno Torgler & Sascha L. Schmidt & Bruno S. Frey, 2008. "The Power of Positional Concerns," CREMA Working Paper Series 2008-07, Center for Research in Economics, Management and the Arts (CREMA).
    7. Steiner, Michael & Wiegand, Nico & Eggert, Andreas & Backhaus, Klaus, 2016. "Platform adoption in system markets: The roles of preference heterogeneity and consumer expectations," International Journal of Research in Marketing, Elsevier, vol. 33(2), pages 276-296.
    8. van Treeck, Till. & Sturn, Simon., 2012. "Income inequality as a cause of the Great Recession? : A survey of current debates," ILO Working Papers 994709343402676, International Labour Organization.
    9. Luis Garicano & Thomas N. Hubbard, 2016. "The Returns to Knowledge Hierarchies," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 32(4), pages 653-684.
    10. Oded Stark & Wiktor Budzinski, 2021. "A social‐psychological reconstruction of Amartya Sen’s measures of inequality and social welfare," Kyklos, Wiley Blackwell, vol. 74(4), pages 552-566, November.
    11. Truong, Yann & McColl, Rod, 2011. "Intrinsic motivations, self-esteem, and luxury goods consumption," Journal of Retailing and Consumer Services, Elsevier, vol. 18(6), pages 555-561.
    12. Scott Duke Kominers & Alexander Teytelboym & Vincent P Crawford, 2017. "An invitation to market design," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 33(4), pages 541-571.
    13. Ann Mari May, 2008. "On Gender Balance in the Economics Profession," Econ Journal Watch, Econ Journal Watch, vol. 5(2), pages 193-198, May.
    14. Muhammad Faress Bhuiyan, 2018. "Life Satisfaction and Economic Position Relative to Neighbors: Perceptions Versus Reality," Journal of Happiness Studies, Springer, vol. 19(7), pages 1935-1964, October.
    15. Liu, Jingting, 2016. "Covered in Gold: Examining gold consumption by middle class consumers in emerging markets," International Business Review, Elsevier, vol. 25(3), pages 739-747.
    16. Michalis Nikiforos, 2020. "Demand, Distribution, Productivity, Structural Change, and (Secular?) Stagnation," Economics Working Paper Archive wp_945, Levy Economics Institute.
    17. Mattauch, Linus & Hepburn, Cameron & Stern, Nicholas, 2018. "Pigou pushes preferences: decarbonisation and endogenous values," INET Oxford Working Papers 2018-16, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    18. Andreia Tolciu, 2010. "The Economics of Social Interactions: An Interdisciplinary Ground for Social Scientists?," Forum for Social Economics, Taylor & Francis Journals, vol. 39(3), pages 223-242, January.
    19. Joy, Annamma & Wang, Jeff Jianfeng & Chan, Tsang-Sing & Sherry, John F. & Cui, Geng, 2014. "M(Art)Worlds: Consumer Perceptions of How Luxury Brand Stores Become Art Institutions," Journal of Retailing, Elsevier, vol. 90(3), pages 347-364.
    20. Pak, Tae-Young, 2023. "Relative deprivation and financial risk taking✰," Finance Research Letters, Elsevier, vol. 55(PA).

    More about this item

    Keywords

    Economics Nobel Prize;

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:amerec:v:64:y:2019:i:2:p:167-182. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: http://journals.sagepub.com/home/aex .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.