Oct
28

Nobel Economics Prize is announced on Monday, several names are shuffled

by admin, under Main News

The last of the six awards to be announced this year, whose real name is Prize in Economic Sciences in Memory of Alfred Nobel, was not among the original awards: Created in 1968 by the Swedish central bank in honor of the creator of the other surveys .

Since the prize was first awarded in 1969, no woman has won. Since 1980, 23 times what Americans were.

awards committee investigations often a certain age who have maintained their validity over time, but this time a relatively new work on the thinking of consumers, the Austrian economist Ernst Fehr of the University of Zurich, is one of the leading candidates in previous speculation.

is also mentioned Matthew Rabin, an American of 45 years which studies issues similar at the University of California at Berkeley.

Fehr's research supports the saying that revenge is sweet. Fehr found that part of the brain associated with the satisfaction is more active when people seek revenge.

The study established a laboratory complex game where players earn more money if they relied on their peers and accept them their funds. The players had the option of seeking revenge through the treacherous fines, but were warned that this would cost extra money.

Ultimately, what we have shown is that the circuits reward in the brain are activated when people can punish the other, said Fehr. People do not gain anything in economic terms, gains something in psychological terms.

Rabin has studied the economy call for immediate gratification and the implications of self-control problems on the elections consumer, marketing, addictions and theory of incentives.

Other favorites to win the award are Professor Martin Weitzman of Harvard and William Nordhaus, Yale who have shown how to use cost-benefit analysis to drive decisions on environmental policies.

is also mentioned Bengt Holmstrom, the Massachusetts Institute of Technology,which is investigating how contracts influence long-term incentives.

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The Associated Press reporter Jeannine Aversa in Washington contributed to this report.

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