Here Comes The Nobel Prize In Economics

Nobel Prize

This morning around 7:00 a.m. Eastern Time, the 2013 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (commonly known as the Nobel Prize for Economics) will be announced.

Amusingly, the Wall Street Journal and Thomson Reuters have both published lists of potential winners, which have zero overlap.

According, to the Wall Street Journal, probable winners include:

• Douglas Diamond of the Booth School of Business at the University of Chicago and Philip Dybvig of the Olin School of Business at Washington Univeristy, for their work on bank runs;
• Any or several of Jean Tirole of the Toulouse School of Economics; Bengt Holstrom of MIT; Oliver Hart of Harvard; Gary Gorton of the Yale School of Management; and Paul Milgrom of Stanford, for their work on industrial organization;
• David Kreps of Stanford Business School, for work on finance, game theory and corporate economics;
• Lars Hansen of the University of Chicago and Jerry Hausman of MIT, for econometrics;
• Robert Shiller of Yale (co-developer of the Case-Shiller index of home prices) and Richard Thaler of Cornell, for behavioral economics;
• Paul Romer of NYU's Stern School of Business and Robert Barro of Harvard, for their work on determinants of economic growth.

The last one of these is my father, but please don't let that lead you to think that I'm biased.

Thomson Reuters' list includes:

• Joshua Angrist of MIT, David Card of Berkeley, and Alan Krueger of Princeton, for their work on labor markets;
• David Hendry of Oxford, Hashem Pesaran of Cambirdge, and Peter Phillips of Yale, for their work on economic time series;
• Sam Peltzman of the Booth School of Business at the University of Chicago and Richard Posner of the University of Chicago Law School, for their work on regulation;

We'll have a winner or a set of winners around 7 a.m. today...