Nobel prize for economics to Angus Deaton

Capture d’écran 2015-10-19 à 11.58.06On October 12, 2015, The Royal Swedish Academy of Sciences has decided to award The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2015 to Angus Deaton “for his analysis of consumption, poverty, and welfare”. Here are a few interesting resources about Deaton’s work.

  • An article published on the Conversation and written by Vincent O’Sullivan, Lecturer in Economics, Lancaster University: How data empowered the economic individual and gained a Nobel for Angus Deaton . In this article, Vincent O’Sullivan comments on the choice that “appears to favour the micro over the macro; the experience of individuals rather than the grand plans of policy makers.”
  • The scientific background: Consumption, poverty and welfare written by the Committee for the Prize in Economic Sciences in Memory of Alfred Nobel.
  • Capture d’écran 2015-10-19 à 12.08.30Here is his website at Princeton University: Dwight D. Eisenhower Professor of International Affairs. Professor of Economics and International Affairs, Woodrow Wilson School.

How soccer helps the economists

SoccerLSE has a blog devoted to book reviews. Written by research professors, they cover books recently published in social sciences and humanities. We recommend reading this:

Beautiful Game Theory: How Soccer Can Help Economics by Ignacio Palacios-Huerta

 This book review is written by Dr Peter Dawson, Senior Lecturer in Economics at University of East Anglia with interests in applied microeconometrics, education economics and, most notably, sports economics.

Beautiful Game Theory uses soccer to test economic theories and document novel human behaviour. Ignacio Palacios-Huerta offers insights into game theory and microeconomics, covering topics such as mixed strategies, discrimination, incentives, and human preferences. Peter Dawson approves of the mix between analytical rigour and stories, and there are many aspects that would interest journalists and policy-makers alike.

Read more here

Paper of the month on SSRN

ChristmasChristmas Economics – A Sleigh Ride by Laura Birg (University of Goettingen) and Anna Goeddeke (Reutlingen University – ESB Business School) – November 17, 2014.

“Do you believe that at Christmas time the gas prices, the economy and the number of suicides peak? Do you think that the value of presents you are giving to your beloved is of importance? We show in this paper that conventional wisdom about Christmas is often doubtful. Furthermore, we give an idea of how Santa Claus — and maybe you — is able to finance Christmas celebrations, why emergency departments are a place to especially avoid during this time of the year and why Christmas tree growers might care to explain the differences across species to you this year. We cannot clearly establish whether Christmas entails a welfare loss or gain, however, we give you an idea as to which institutional settings might reduce a potential welfare loss. Also, we give advice about which behaviours might get you more Christmas presents from Santa this year. Finally, we find that more research is needed to give conclusive reasons why Santa Claus actually brings presents to (nearly) everyone.”