- Seminar 2 (22.10.2020): Nobel Prize laureates in Economic Sciences (1)
Online meeting
22.10.2020 at 08:00: MS teams: BPV_APEC Public Economics
Student´s presentations
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2020 was awarded jointly to Paul R. Milgrom and Robert B. Wilson "for improvements to auction theory and inventions of new auction formats."
Joseph E. Stiglitz
Joseph E. Stiglitz
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2001
Born: 9 February 1943, Gary, IN, USA
Affiliation at the time of the award: Columbia University, New York, NY, USA
Prize motivation: "for their analyses of markets with asymmetric information."
Contribution: Showed that asymmetric information can provide the key to understanding many observed market phenomena, including unemployment and credit rationing.
Prize share: 1/3
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https://is.muni.cz/el/econ/podzim2020/BPV_APEC/ode/384588/106009031/Stiglits_ppt_BB.pptx
Elinor Ostrom
Elinor Ostrom
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2009
Born: 7 August 1933, Los Angeles, CA, USA
Died: 12 June 2012, Bloomington, IN, USA
Affiliation at the time of the award: Indiana University, Bloomington, IN, USA, Arizona State University, Tempe, AZ, USA
Prize motivation: "for her analysis of economic governance, especially the commons."
Contribution: Challenged the conventional wisdom by demonstrating how local property can be successfully managed by local commons without any regulation by central authorities or privatization.
Prize share: 1/2
Ronald H. Coase
Ronald H. Coase
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1991
Born: 29 December 1910, Willesden, United Kingdom
Died: 2 September 2013, Chicago, IL, USA
Affiliation at the time of the award: University of Chicago, Chicago, IL, USA
Prize motivation: "for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy."
Contribution: Important contributions on the borderline between economics, law and organization.
Prize share: 1/1