The Nobel Memorial Prize in Economics 1992
Article Abstract:
The 1992 Nobel Prize in Economics is awarded to Gary S Becker of the University of Chicago. Becker is cited for his work in extending economic analysis to areas hitherto treated only by other disciplines, and is recognized especially for his work on the economics of human capital. His formulation of the microeconomic foundations of the theory of human capital has provided a framework for studies on return on education and training, as well as wage profiles and differentials, and an aid to explanation of international trade patterns. Becker's work has had great influence not only on the field of economics, but also on other social science disciplines.
Publication Name: Scandinavian Journal of Economics
Subject: Economics
ISSN: 0347-0520
Year: 1993
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The Nobel Memorial Prize in Economics 1991
Article Abstract:
The 1991 Nobel Memorial Prize in Economics has been awarded to Ronald H. Coase of the University of Chicago. Coase made his lasting contributions to the new field of institutional economics. The awardee contributed much to the concept of transaction costs and property rights. The study of microeconomics has been enriched by Coase's introduction of contracts and negotiation elements. His most famous books are 'The Nature of the Firm' and 'The Problem of Social Cost.'
Publication Name: Scandinavian Journal of Economics
Subject: Economics
ISSN: 0347-0520
Year: 1992
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The Nobel Memorial Prize in Economics 1997
Article Abstract:
Robert Merton, Myron Scholes and Fischer Black have made a considerable contribution to economics in the form of their formula for valuating stock options. The formula the three have developed shows that it is not necessary to use any risk premium when valuing an option as it may be included in the computation of the stock price. Their formula has paved the way for the development of more efficient management tools.
Publication Name: Scandinavian Journal of Economics
Subject: Economics
ISSN: 0347-0520
Year: 1998
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