Keyword: Nobel Prize in Economic Sciences

This Finance survey examines that Harry Markowitz, the Nobel Prize-winning pioneer of modern portfolio theory, passed away earlier this year: https://afajof.org/news/in-memoriam-harry-markowitz-past-president-of-the-american-finance-association-1927-2023/ (a) Application of the principles of modern portfolio theory allows investors in practice to achieve substantial improvements in the risk-expected return trade-off relative to naive strategies such as equal-weighting that do not take account of return covariances; (b) A continued fall in commercial real estate valuations would trigger another round of banking panic

This US survey examines (a) When economic policy-makers are unable to commit credibly in advance to a specific decision rule, they will often follow a poor policy trajectory; (b) Rules-based fiscal policies deliver substantially better outcomes than purely discretionary, on the spot, policy choices.

This week’s IGM Economic Experts Panel statements: A) Randomized control trials are a valuable tool for answering some long unsettled questions in development economics research. B) Randomized control trials are a valuable tool for making significant progress in poverty reduction.

This week’s IGM European Economic Experts Panel statements: A) Randomized control trials are a valuable tool for answering some long unsettled questions in development economics research. B) Randomized control trials are a valuable tool for making significant progress in poverty reduction.

This week's IGM Economic Experts Panel statements: A) Considering a broad range of costs and benefits is a better tool for guiding climate policy than setting temperature limits (such as 1.5 °C, eg) based on expected links between temperature increases and the extent of environmental harm. B) Carbon taxes are a better way to implement climate policy than cap-and-trade.

This week's IGM Economic Experts Panel statement: Ideas are nonrival, so increasing returns to scale is an essential feature of technological change in a market economy.

This week's IGM European Economic Experts Panel statement: Insights from psychology about individual behavior – examples of which include limited rationality, low self-control, or a taste for fairness – predict several important types of observed market outcomes that fully-rational economic models do not.

This week's IGM Economic Experts Panel Statement: Insights from psychology about individual behavior – examples of which include limited rationality, low self-control, or a taste for fairness – predict several important types of observed market outcomes that fully-rational economic models do not.

This week’s IGM Economic Experts Panel statements: A: Employers that discriminate in hiring will be at a competitive disadvantage, if their customers do not care about their mix of employees, compared with firms that do not discriminate. B: Rising market wages are an important reason — over and above any changes in medical technology, social norms or preferences — why family sizes have fallen over the past century in rich countries.

This week’s IGM Economic Experts Panel statement: Slavery in the United States was eradicated because of social and political events, not because it was an unprofitable institution for slaveholders.