Journal Entry

Journal Entry/Nobel Prize Winners

Pick two of the three following topics and investigate a Nobel prize winner associated with the

two topics you chose.

Information Problems: Georg Akerlof or Oliver Hart

Behavioral Economics: Daniel Kahneman or Richard Thaler

Institutional Economics: Elinor Ostrom or Oliver Williamson

You have selected two winners. For this entry, write on the following:

1) Short biography of the winner (no more than half a page)

2) What were their areas of interest? (micro or macro? What fields of economics?)

3)

What key concepts or economic tools did they develop?

Pick one concept and explain it

in detail. Preferably the one they are most known for.

4) What are their most cited/famous works? (books/articles)

5) Find one of their journal articles (maybe the one they are most famous for) and explain

how they did their economic investigation and what tools (experiments, data, abstract

models,...) they used. Give a short summary of the article. Your library online database

has access to the major economics journals.

Based on what you read, which of these topics of study interested you more and why? If you

were to investigate the topic further, what questions might you want to ask or research

further? (1-2 questions)