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on History and Philosophy of Economics |
| By: | Robinson, James A. (University of Chicago) |
| Abstract: | James A. Robinson delivered his prize lecture on 8 December 2024 at the Aula Magna, Stockholm University. He was introduced by Professor John Hassler, member of the Committee for the Prize in Economic Sciences in Memory of Alfred Nobel. |
| Keywords: | Prosperity; Institutions |
| JEL: | O11 O43 |
| Date: | 2024–12–08 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2024_005 |
| By: | Bernanke, Ben (Brookings Institution) |
| Abstract: | Meet economist Ben Bernanke in a podcast conversation. Bernanke tells us about his childhood interest in the origin of words, which ultimately led him to win spelling competitions as a child. He also speaks about economics and how that field unifies his interest in mathematics with social science and concerns about society. |
| Keywords: | Banking; Financial crises |
| JEL: | E53 G21 G28 |
| Date: | 2023–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2022_007 |
| By: | Acemoglu, Daron (MIT) |
| Abstract: | Daron Acemoglu delivered his prize lecture on 8 December 2024 at the Aula Magna, Stockholm University. He was introduced by Professor John Hassler, member of the Committee for the Prize in Economic Sciences in Memory of Alfred Nobel. |
| Keywords: | Prosperity; Institutions |
| JEL: | O11 O43 |
| Date: | 2024–12–08 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2024_003 |
| By: | Johnson, Simon (MIT) |
| Abstract: | Simon Johnson delivered his prize lecture on 8 December 2024 at the Aula Magna, Stockholm University. He was introduced by Professor John Hassler, member of the Committee for the Prize in Economic Sciences in Memory of Alfred Nobel. |
| Keywords: | Prosperity; Institutions |
| JEL: | O11 O43 |
| Date: | 2024–12–08 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2024_004 |
| By: | Diamond, Douglas (University of Chicago) |
| Abstract: | “I think economics is getting closer and closer to being a respectable science. Even when we were not the most respectable science, we still needed to keep pushing forward because the topic actually matters to the planet, to the humans on the planet, and to the animals on the planet.” Douglas Diamond is a strong advocate for economics as a scientific field. His passion for economics was sparked at a young age when he accidentally took an undergraduate course in the topic. In this conversation, conducted in February 2023, Diamond reflects on the working environment at University of Chicago – a work place that has become his home after working there 30 years – and how he sees more and more women enter the field of economics, something he thinks is a very positive development. He also tells us about the “No” bell that he received from Richard Thaler – a tool to helps him say no as a newly awarded laureate. |
| Keywords: | Banking; Financial crises; |
| JEL: | E53 G21 G28 |
| Date: | 2023–05–04 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2022_009 |
| By: | Dorian Jullien (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Alexandre Truc (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur) |
| Abstract: | Existing histories of behavioral and experimental economics (BE-XP) are mostly focused on the intellectual and institutional developments of these approaches in the United States of America -and to a lesser extent in Germany. While a seminal contribution to these approaches was produced in the early 1950s in France by Maurice Allais, the literature is rather silent on how BE-XP developed subsequently in France. We propose to fill this gap by comparing the history of BE-XP in France to international trends previously identified in the literature. We show that after an ambivalent influence of the work of Allais ( 1953) on BE-XP in France during the 1980s, that influence rapidly faded. BE-XP in France then largely follows international trends. We nevertheless identify some heterogeneity across the French territory and the development of at least two national specificities on the measurement of utility and the modeling of social preferences. |
| Keywords: | Scientometrics, Behavioral economics, Experimental economics, History of economics |
| Date: | 2024–11–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:cesptp:halshs-04810987 |
| By: | Goldin, Claudia (Harvard University) |
| Abstract: | Claudia Goldin delivered her prize lecture on 8 December 2023 at the Aula Magna, Stockholm University. She was introduced by Professor Peter Fredriksson, member of the Committee for the Prize in Economic Sciences in Memory of Alfred Nobel. |
| Keywords: | Gender in labor markets; |
| JEL: | J70 J71 J78 |
| Date: | 2023–12–08 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2023_003 |
| By: | Prize Committee, Nobel (Nobel Prize Committee) |
| Abstract: | To Daron Acemoglu, Massachusetts Institute of Technology, Simon Johnson, Massachusetts Institute of Technology, and James A. Robinson, University of Chicago, for studies of how institutions are formed and affect prosperity |
| Keywords: | Prosperity; Institutions |
| JEL: | O11 O43 |
| Date: | 2024–10–14 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2024_002 |
| By: | Goldin, Claudia (Harvard University) |
| Abstract: | Interview with the 2023 economic sciences laureate Claudia Goldin on 6 December 2023 during the Nobel Week in Stockholm, Sweden. |
| Keywords: | Gender in labor markets; |
| JEL: | J70 J71 J78 |
| Date: | 2023–12–06 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2023_005 |
| By: | Diamond, Douglas (University of Chicago) |
| Abstract: | was born in Chicago in 1953. My maternal grandparents were Catholic. My grandmother, Ethel Elizabeth Houlehan Gunkel, was of Irish descent. She was a strong woman who lived to 100 and was lots of fun. My grandfather, Frederick Peter Gunkel, was of Austrian and German descent. He was the executive hog buyer for Oscar Mayer in Madison, Wisconsin, which insulated the Gunkel family from the Great Depression of the 1930s. In that period, the Gunkel family was able to help feed their neighbors with food from Oscar Mayer. My grandfather died in his 50s, and my grandmother became the matriarch of the Gunkel clan. My grandfather had told her to never sell her Oscar Mayer stock, almost her entire net worth, which violated all of investment portfolio theory. She never sold, but she did well when General Foods acquired Oscar Mayer in 1981. |
| Keywords: | Banking; Financial crises; |
| JEL: | E53 G21 G28 |
| Date: | 2023 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2022_012 |
| By: | Rémy Herrera (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This article analyzes the evolutions of Marx's positions on colonization. It first emphasizes the invariant of his reflections: the denunciation of colonial violence. We initially find an interpretation of colonization as a process of modernization, then as a dynamic of "destruction-regeneration, " linked to the "unification of the world." The author identifies above all the successive inflections of Marx's – resolutely critical – thought about colonial and national issues, the non-linear character of history, and the differentiation of social formations. |
| Abstract: | Cet article analyse les évolutions des positions de Marx à propos de la colonisation. Il souligne tout d'abord l'invariant de ces réflexions : la dénonciation de la violence coloniale. Au départ, on trouve une interprétation de la colonisation comme processus de modernisation, puis comme dynamique de destruction-régénération, liée à l'« unification du monde ». L'auteur identifie spécialement les inflexions successives de la pensée de Marx résolument critique -, au sujet des questions coloniale et nationale, du caractère non linéaire de l'histoire, mais aussi de la différenciation des formations sociales. |
| Keywords: | Marxism, capitalism, colonization, destruction-regeneration, non linearity, social formations, Marxisme capitalisme colonisation violence destruction-régénération nonlinéarité formations sociales Marxism capitalism colonization violence destruction-regeneration non linearity social formations Classification JEL : B14 B51 N10, Marxisme, capitalisme, colonisation, violence, destruction-régénération, nonlinéarité, Formations sociales |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:cesptp:hal-04796804 |
| By: | Goldin, Claudia (Harvard University) |
| Abstract: | There are many roads one can take in life. But to what extent will your life choices decide what kind of person you become? Listen to our podcast conversation with economist and laureate Claudia Goldin, as we discuss the choices that brought her to this moment in time. |
| Keywords: | Gender in labor markets; |
| JEL: | J70 J71 J78 |
| Date: | 2024–06–06 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2023_004 |
| By: | Bernanke, Ben (Brookings Institution) |
| Abstract: | I was born December 13, 1953, in Augusta, Georgia, but spent my childhood and teenage years in Dillon, South Carolina. Dillon, a town of about 6, 000 people, lies just west of the Little Pee Dee River, in the northeastern part of the state. When I lived there, the area was mostly dependent on agriculture – cotton and tobacco – although for a time there also was textile manufacturing. In the 1950s and 1960s, other than high school football, Dillon had little to offer in terms of services or entertainment. A visit to an optometrist or an evening at the movies required a trip to the larger city of Florence, about 30 miles away. Dillon’s main claim to fame when I was living there, and perhaps still today, was South of the Border, a sprawling Mexican-themed tourist attraction just south of the North Carolina state line. Many travelers on I-95 on their way to Florida would be entertained by the pun-filled billboards advertising South of the Border (“Try our honeymoon suite: It’s heir conditioned!”) that lined the highway. I was a serape-clad waiter at one of South of the Border’s four restaurants for several summers during my college years. |
| Keywords: | Banking; Financial crises; |
| JEL: | E53 G21 G28 |
| Date: | 2023 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2022_011 |
| By: | Garg, Prashant; Fetzer, Thiemo |
| Abstract: | We analyze over 44, 000 economics working papers from 1980-2023 using a custom language model to construct knowledge graphs mapping economic concepts and their relationships, distinguishing between general claims and those supported by causal inference methods. The share of causal claims within papers rose from about 4% in 1990 to 28% in 2020, reflecting the "credibility revolution." Our findings reveal a trade-off between factors enhancing publication in top journals and those driving citation impact. While employing causal inference methods, introducing novel causal relationships, and engaging with less central, specialized concepts increase the likelihood of publication in top 5 journals, these features do not necessarily lead to higher citation counts. Instead, papers focusing on central concepts tend to receive more citations once published. However, papers with intricate, interconnected causal narratives-measured by the complexity and depth of causal channels-are more likely to be both published in top journals and receive more citations. Finally, we observe a decline in reporting null results and increased use of private data, which may hinder transparency and replicability of economics research, highlighting the need for research practices that enhance both credibility and accessibility. |
| Keywords: | knowledge graph, credibility revolution, causal inference, narrative complexity, null results, private data, large language models |
| JEL: | A10 B41 C18 C80 D83 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:i4rdps:183 |
| By: | Goldin, Claudia (Harvard University) |
| Abstract: | I have always wanted to be a detective. As a young child in New York City, I was determined to uncover the secrets of the mummies at the Museum of Natural History. I grew up in the Parkchester section of the Bronx, New York with my parents and older sister, Judy. I was a happy and vivacious child (Fig. 1) filled with curiosity. My mother became an early childhood teacher when I was about five years old (typical of many in her cohort) and later was an assistant principal at Public School 105 in the Bronx. My father was a middle manager, eventually at Burlington Industries, where he was in charge of data processing, programmed an IBM 360, and supervised a bevy of key-punch operators. |
| Keywords: | Gender in the labor market; |
| JEL: | J70 J71 J78 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2023_006 |
| By: | Rémy Herrera (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This article intends to return to Marx's theory of the State to show that this author left us numerous and fruitful elements, the analyzes of which deserve to be meditated on today. From the conception of the State as an alienated expression of civil society to that of the organization of the dominant class, then from that of the apparatus or machine to that of the lever of the revolution, Marx's interpretation has evolved to become more complex, and enriched. We should also know how to situate this State at the heart of the dynamic of capital accumulation, in particular through its role relative to money, itself located between value and profit, but also in its interventions in colonial and commercial policies. Finally, the article insists on the fact that capitalism is today in an impasse and doomed, its State being experiencing more and more difficulties in the face of the deep contradictions of this system. This is the reason why Marxism still remains an essential theoretical reference. |
| Keywords: | Marxian theory, State, capitalism, crisis, revolution |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:cesptp:hal-04796811 |
| By: | Phoebe Koundouri; Nikitas Pittis (University of Piraeus, Greece); Panagiotis Samartzis |
| Abstract: | This paper has three main objectives. First, it aims to clarify the alternative concepts of rationality used in economics, specifically Rationality-A(coherence of subjective probabilities for every point in time), Rationality- B (perfect alignment with objective probabilities for every point in time), and Rationality-BB (asymptotic convergence to objective probabilities over time). Second, it seeks to identify distinct sets of epistemic assumptions (S1-S5) that logically entail each of these three definitions of rationality and to explain their respective roles. Third, it evaluates the pragmatic justifications for these assumptions, focusing on Dutch Book arguments for coherence and arbitrage arguments for asymptotic accuracy. |
| Keywords: | Rationality, Coherence, Accuracy, Epistemic Assumptions, Pragmatic Justifications |
| JEL: | C44 D81 D83 D89 |
| Date: | 2025–01–05 |
| URL: | https://d.repec.org/n?u=RePEc:aue:wpaper:2501 |
| By: | Dybvig, Philip (Washington University) |
| Abstract: | This biography is intended to talk about how my early life contributed to my development as a scholar. This is necessarily speculative, since I have no evidence of what would have happened if my early life had been different. However, my impression is that my development as a scholar built on using my brain on various passions when I was young. I have always been curious about many things, and for me the breadth of interests provided a lot of ideas that could be combined in doing research. I read most of the mystery and science fiction books and many biographies in the local public library, and I read a lot of math and science outside the relatively small amount required for school. I did a lot of experiments with my chemistry set, which unlike chemistry sets today that have been regulated down to a few experiments with dyes, had a lot of interesting chemicals including a lot of chemicals I bought that were not in the original set. I also spent a lot of time solving puzzles. I was also interested in astronomy, and I participated in a regional astronomy club where I attended meetings and built my own telescope, grinding and polishing the mirror myself. In this essay, I will focus on two other interests that seemed to have a profound impact on my development, playing music and playing games. |
| Keywords: | Banking; Financial crises |
| JEL: | E53 G21 G28 |
| Date: | 2023 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2022_013 |
| By: | Heng-fu Zou (The World Bank) |
| Date: | 2024–11–23 |
| URL: | https://d.repec.org/n?u=RePEc:cuf:wpaper:705 |
| By: | Heng-fu Zou (The World Bank) |
| Date: | 2024–11–28 |
| URL: | https://d.repec.org/n?u=RePEc:cuf:wpaper:709 |
| By: | Claude DIEBOLT (BETA/CNRS, Université de Strasbourg et Association Française de Cliométrie); Faustine PERRIN (Department of Economic History, Lund University, Lund, Sweden) |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:afc:wpaper:04-24 |
| By: | Heng-fu Zou (The World Bank) |
| Date: | 2024–12–02 |
| URL: | https://d.repec.org/n?u=RePEc:cuf:wpaper:713 |
| By: | Kapeller, Jakob; Klann, Niklas; van Treeck, Till |
| Abstract: | Dieser Beitrag untersucht die strukturellen Schwächen ökonomischer Wissenstests hinsichtlich ihrer oft implizit normativen und politisch einseitigen Grundannahmen. Es wird die Frage nach der Objektivität ökonomischen Wissens gestellt und hinterfragt, inwiefern Wissenstests ideologisch geprägt sind. Durch die Analyse von Beispielen wird aufgezeigt, dass dominante ökonomische Lehrbuchannahmen unkritisch übernommen werden und potenziell zu politischen Verzerrungen und normativen Biases führen. Abschließend plädiert der Beitrag für eine "Pluralisierung" der ökonomischen Fragen, indem unterschiedliche theoretische Perspektiven integriert werden, um ein differenzierteres Bild ökonomischer Zusammenhänge und Bewertungsfragen zu ermöglichen und anhand von drei pluralen Beispielfragen zu erproben. |
| Keywords: | Sozioökonomische Bildung, ökonomisches Wissen, Wissenstests, Socioeconomic Education, Economic Knowledge, Knowledge Tests |
| JEL: | A11 A12 A13 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ifsowp:308063 |
| By: | Jean Daniel Boyer (LinCS, BETA, Université de Strasbourg) |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:afc:wpaper:01-24 |
| By: | Alger, Ingela; Bayer, Péter |
| Abstract: | Norms indicate which behaviors are commonly expected and/or considered to be morally right. We examine how such norms come about and change by modeling a population of individuals with preferences – found elsewhere to be evolutionarily founded – combining ma-terial self-interest, Kantian moral concerns, and attitudes towards being materially ahead and behind others. The individuals interact in a public goods game. We identify conditions on preferences and beliefs which promote, respectively hamper, spontaneous norm change. Cru-cially, an individual’s preferences and beliefs about the material benefits uniquely determines her threshold for collective behavior: s/he contributes if and only if sufficiently many others do so. However, those with sufficiently strong Kantian concerns contribute regardless. |
| Keywords: | moral norms; descriptive norms; social norms; social-Kantian preferences |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:tse:wpaper:130038 |
| By: | Romain DIEBOLT (Association française de cliométrie) |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:afc:wpaper:07-24 |