Comments on: The Roth/Shapley Prize http://cheaptalk.org/2012/10/16/the-rothshapley-prize/ A blog about economics, politics and the random interests of forty-something professors Wed, 22 May 2013 18:12:42 +0000 hourly 1 http://wordpress.com/ By: dan s http://cheaptalk.org/2012/10/16/the-rothshapley-prize/#comment-19559 Sat, 20 Oct 2012 18:01:20 +0000 http://cheaptalk.org/?p=12257#comment-19559 have you (or has anyone you know or anyone reading this) played Fuck your buddy? If so – what do you think? good game for undergrad game theory class the day before thanksgiving break? if not – i may investigate – will let you know how it goes if interested

]]> By: A prize for priceless markets « Expertly Wrapped http://cheaptalk.org/2012/10/16/the-rothshapley-prize/#comment-19370 Wed, 17 Oct 2012 22:50:34 +0000 http://cheaptalk.org/?p=12257#comment-19370 [...] more information, see the blog entries by professors Jeff Ely in Cheap Talk and Rakesh Vohra in The Leisure on the Theory Class. Al Roth blogs at Market Design. MoreLike [...]

]]> By: Tayfun Sonmez http://cheaptalk.org/2012/10/16/the-rothshapley-prize/#comment-19189 Wed, 17 Oct 2012 04:00:17 +0000 http://cheaptalk.org/?p=12257#comment-19189 Hi Jeff,

Thanks a lot for your very generous coverage. We are very hopeful that the Roth-Shapley Nobel will increase the interest in market design.
The Nobel prize committee provided the following very thorough scientific background document for this years economics Nobel emphasizing some of the points you are making above:

http://www.nobelprize.org/nobel_prizes/economics/laureates/2012/advanced-economicsciences2012.pdf

Great year for us working on matching and market design and thanks for your support!

]]> By: Evan http://cheaptalk.org/2012/10/16/the-rothshapley-prize/#comment-19084 Tue, 16 Oct 2012 19:32:57 +0000 http://cheaptalk.org/?p=12257#comment-19084 Akerlof’s Nobel essay does not describe a fundamental disagreement in microeconomics. It is worth keeping in mind that he is describing the state of economics nearly 50 years ago, not today. He even concludes with “Lemons was much less of a break with the economics of the time than might otherwise be interpreted. It was the natural extension of the on-going intellectual activity at MIT.”

]]> By: jeff http://cheaptalk.org/2012/10/16/the-rothshapley-prize/#comment-19057 Tue, 16 Oct 2012 14:03:17 +0000 http://cheaptalk.org/?p=12257#comment-19057 yes but i think he got the prize before becoming a blogger :)

]]> By: Michael http://cheaptalk.org/2012/10/16/the-rothshapley-prize/#comment-19043 Tue, 16 Oct 2012 11:22:10 +0000 http://cheaptalk.org/?p=12257#comment-19043 “There are no fundamental disagreements about basic principles of microeconomics”

I suppose this claim depend on what is a basic principle, but there seems to me to be quite a few fundamental disagreements in microeconomics. A few examples are:

George A. Akerlof
Writing the “The Market for ‘Lemons’”: A Personal and Interpretive Essay
http://www.nobelprize.org/nobel_prizes/economics/laureates/2001/akerlof-article.html

Liebowitz and Margolis on Network Externalities

Gul and Pesendorfer on “The Case for Mindless Economics”
http://www.princeton.edu/~pesendor/mindless.pdf

Sam Bowles book which explores non-contractual social interactions, adaptive and other-regarding behaviors, and generalized increasing returns.
http://press.princeton.edu/chapters/p7610.pdf

Geoffrey Hodgson,
‘On the Limits of Rational Choice Theory’, Economic Thought. 1(1), 2012.
http://www.geoffrey-hodgson.info/user/image/limits-rational-choice.pdf

]]> By: Brittany http://cheaptalk.org/2012/10/16/the-rothshapley-prize/#comment-19033 Tue, 16 Oct 2012 05:40:19 +0000 http://cheaptalk.org/?p=12257#comment-19033 Gary Becker also has a blog but only posts at most once per week
http://uchicagolaw.typepad.com/beckerposner/

]]>