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Nobel

"De gustibus non est disputan". You may like it or not but the fact that the Nobel Prize was awarded to Daniel Kahneman is a good thing (Had Amos Tversky not died, he would had receive it too). Their work is pathbreaking: it is the empirical foundation of an alternative decision theory capable of explaining many anomalies and puzzles in economics (I strongly recommend Thaler´s The Winner´s Curse). It is nice to see some empirical (better, down-to-earth) economics being rewarded for a change.
 
 
----- Original Message -----
From: "Sven R Larson" <slarson@xxxxxxxxxxxx>
To: <pkt@xxxxxxxxxxxxxxxx>
Sent: Wednesday, October 09, 2002 3:47 PM
Subject: [Fwd: nobel]

>
> Americans and
>                  Vernon Smith shared the 2002 Nobel economics
>                  prize on Wednesday for work on how psychology
>                  affects people's buying decisions, and for
>                  developing laboratory experiments in economics.
>                  The Royal Swedish Academy of Sciences said that
>                  Kahneman, 68, and Smith, 75, will share the
>                  prestigious $1 million prize for groundbreaking
>                  studies beyond the traditional assumption of rational
> human
>                  economic behavior driven by self interest.
>
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