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发信人: zjliu (秋天的萝卜), 信区: Economics
标  题: 诺贝尔经济学奖得主回顾（第三期）
发信站: 哈工大紫丁香 (Sat Mar 20 10:09:05 2004), 站内信件

从1969年至今，有五十多位经济学家获得了诺贝尔经济学奖。他们的研究领域几乎覆

盖了整个经济学的方方面面，他们的成就推动了上世纪经济学的飞速发展。本版隆重推出

“诺贝尔经济学奖得主回顾”系列，让我们重温经济学在上世纪走过的轨迹。

本期为第三期，回顾时间：1984-1991


Nobel Prize in Economics：1984

Richard Stone

http://bbs1.nju.edu.cn/file/richard_stone_1984.jpg
(1913-1991)
经历

British economist who in 1984 received the Nobel Prize for Economics for devel

oping an accounting model that could be used to track economic activities on a

national and, later, an international scale. He is sometimes known as the fat

her of national income accounting.
Stone initially studied law at the University of Cambridge, but, under the inf

luence of economist John Maynard Keynes, he took a degree in economics in 1935

(Sc.D., 1957). He worked for a brokerage firm in London (1936-40), and in 194

0, at the invitation of Keynes, he entered the British government's Central St

atistical Office. After World War II he was appointed director of the new depa

rtment of applied economics at Cambridge. He retained that position until 1955

, when he became P.D. Leake professor of finance and accounting at Cambridge (

1955-80; professor emeritus from 1980). He was knighted in 1978.
贡献

The first official estimates of British national income and expenditures were

made according to Stone's method in 1941. The greater part of Stone's work, ho

wever, was done in the 1950s, when he offered the first concrete statistical m

eans by which to measure investment, government spending, and consumption; the

se models resulted in what was, in essence, a national bookkeeping system. He

went on to adapt his models for such international organizations as the United

Nations. He was coauthor (with J.E. Meade) of National Income and Expenditure

(1944; 10th ed., with Giovanna Stone, 1977) and author of several other works

, including Input-Output and National Accounts (1961), Mathematics in the Soci

al Sciences and Other Essays (1966), and Mathematical Models of the Economy an

d Other Essays (1970). He was also general editor and part author of the serie

s A Programme for Growth 1962-74.
相关链接

http://www.mtsu.edu/~tvs2/stone.html
http://www.necdetsen.com/profile.html
http://www.nobel.se/economics/laureates/1984/stone-autobio.html
http://www.anagramgenius.com/archive/theeco12.html

Nobel Prize in Economics：1985

Franco Modigliani

http://bbs1.nju.edu.cn/file/franco_modigliani_1985.jpg
(1918- )
经历

Italian-born American economist and finance educator who received the Nobel Pr

ize for Economics in 1985 for his work on household savings and the dynamics o

f financial markets.
The son of a Jewish physician, Modigliani initially studied law but fled Fasci

st Italy in 1939 for the United States, in which country he became a naturaliz

ed citizen in 1946. He studied economics at the New School for Social Research

and obtained his doctorate there in 1944. Modigliani went on to hold teaching

positions at a number of American universities, notably the post of professor

of economics at the Massachusetts Institute of Technology from 1962 on.
贡献

Modigliani received the Nobel Prize for his pioneering research in several fie

lds of economic theory that had practical applications. One of these was his a

nalysis of personal savings, termed the life-cycle theory. The theory posits t

hat individuals build up a store of wealth during their younger working lives

for the purpose of consuming these savings during their own old age, not for t

he purpose of passing them on to their descendants. The theory helped explain

the varying rates of savings in societies with relatively younger or older pop

ulations and proved useful in predicting the future effects of various pension

plans.
Modigliani also did important research with the American economist Merton H. M

iller on financial markets, particularly on the respective effects that a comp

any's financial structure (e.g., the structure and size of its debt) and its f

uture earning potential have on the market value of its stock. They found, in

the so-called Modigliani-Miller theorem, that the market value of a company's

stock depends primarily on investors' expectations of what that company will e

arn in the future. This dictum had come to be regarded as self-evident by the

1970s, and the technique Modigliani invented for calculating the value of a co

mpany's expected future earnings became a basic tool in corporate decision-mak

ing and finance.
相关链接

http://web.mit.edu/newsoffice/tt/2000/sep13/nobel.html
http://www.boston.com/globe/search/stories/nobel/1985/1985h.html
http://www.boston.com/globe/search/stories/nobel/1985/1985i.html
http://www.boston.com/globe/search/stories/nobel/1985/1985m.html
http://www.boston.com/globe/search/stories/nobel/1985/1985q.html
http://www.boston.com/globe/search/stories/nobel/1985/1985r.html
http://gulliver.unian.it/giornale/arretrati/febbraio96/modiglia.html
http://www.ecaar.org/
http://ifa.tv/12steps/Step2/Step2Page2.html#
http://www.cfoeurope.com/199809g.html
http://www.world-of-links.com/fm.html
http://www.nobel.se/economics/laureates/1985/modigliani-autobio.html
http://ideas.repec.org/e/pmo37.html

Nobel Prize in Economics：1986

James M. Buchanan Jr.

http://bbs1.nju.edu.cn/file/james_buchanan_1986.jpg
(1919- )
经历

American economist and educator who received the Nobel Prize for Economics in

1986 for his development of the "public-choice theory," a unique method of ana

lyzing economic and political decision making.
Buchanan attended Middle Tennessee State College (B.S., 1940), the University

of Tennessee (M.A., 1941), and--after five years in the navy--the University o

f Chicago (Ph.D., 1948). He taught at a number of universities from 1950 to 19

69. From 1969 to 1983 he was distinguished professor of economics at the Virgi

nia Polytechnic Institute, and from 1983 he held that title at George Mason Un

iversity in Fairfax, Va.
Buchanan also cofounded (1969) and was director of the Center for Study of Pub

lic Choice.
贡献

Buchanan wrote a number of significant books--both with others and alone--the

best known of which is The Calculus of Consent: Logical Foundations of Constit

utional Democracy (1962), with Gordon Tullock. In this and other books, Buchan

an discussed the politician's self-interest and other social (that is, nonecon

omic) forces that affect governmental economic policy.
Among his other books are The Demand and Supply of Public Goods (1968); Theory

of Public Choice: Political Applications of Economics (1972), ed. with Robert

D. Tollison; Democracy in Deficit: The Political Legacy of Lord Keynes (1977)

, with Richard E. Wagner; and The Power to Tax (1980), with Geoffrey Brennan.

相关链接

http://www.gmu.edu/jbc
http://www.nobel.se/economics/laureates/1986/buchanan-cv.html
http://www.nobel.se/economics/laureates/1986/press.html
http://www.nobel.se/economics/laureates/1986/buchanan-or.html
http://www.boston.com/globe/search/stories/nobel/1987/1987ah.html
http://www.boston.com/globe/search/stories/nobel/1986/1986d.html
http://www.ces.vwl.uni-muenchen.de/cesvideo/b_m/content.htm
http://www.econlib.org/library/Buchanan/buchCContents.html
http://woodrow.mpls.frb.fed.us/pubs/region/int959.html
http://www.hillsdale.edu/newimprimis/2003/march/march03printable.htm
http://www.gmu.edu/centers/publicchoice

Nobel Prize in Economics：1987

Robert M. Solow

http://bbs1.nju.edu.cn/file/robert_merton_solow_1987.jpg
(1924- )
经历

American economist who was awarded the 1987 Nobel Prize for Economics for his

important contributions to the theory of economic growth.
Solow received his B.A. (1947), M.A. (1949), and Ph.D. (1951) degrees from Har

vard University. He began teaching economics at the Massachusetts Institute of

Technology in 1949 and became a full professor there in 1958. He served on th

e Council of Economic Advisers in 1961-62 and was a consultant to that body fr

om 1962 to 1968.
贡献

In the 1950s Solow developed a mathematical model that could show the relative

contributions of various factors to producing sustained national economic gro

wth. Contrary to traditional economic thinking, he showed that the rate of tec

hnological progress is actually more important than capital accumulation and i

ncreases in labour in achieving such growth. The greater efficiency and produc

tivity that result from qualitative improvements such as new machines and impr

oved human skills are thus more important than strictly quantitative investmen

ts that result in a greater number of machines and factories. From the 1960s o

n, Solow's studies were influential in persuading governments to channel their

funds into technological research and development in order to spur economic g

rowth.
相关链接

http://web.mit.edu/newsoffice/tt/2000/sep13/nobel.html
http://www.boston.com/globe/search/stories/nobel/1987/1987d.html
http://www.boston.com/globe/search/stories/nobel/1987/1987g.html
http://web.mit.edu/afs/athena.mit.edu/org/e/economics/www/faculty/solow.html

http://www.mtsu.edu/~tvs2/solow.html
http://www.ces.vwl.uni-muenchen.de/cesvideo/default.htm
http://www.fgn.unisg.ch/eumacro/IntrTutor/SGE04.html
http://www.ecaar.org/directors
http://www.nobel.se/economics/laureates/1987/solow-autobio.html
http://www.elsevier.com/hes/homepage/cvs/solow.htm

Nobel Prize in Economics：1988

Maurice Allais

http://bbs1.nju.edu.cn/file/maurice_allais_1988.jpg
(1911- )
经历

French economist who was awarded the Nobel Prize for Economics in 1988 for his

development of principles to guide efficient pricing and resource allocation

in large monopolistic enterprises.
Allais studied economics at the Ecole Polytechnique and then at the National S

uperior School of Mines of Paris. In 1937 he began working for the state-owned

French mine administration, and in 1944 he became a professor at the National

Superior School of Mines. From the 1940s on he directed various government re

search bodies dealing with economics research. In 1977 he was named an officer

of the Legion of Honour.
贡献

In Allais's principal works, two massive studies published in the 1940s, he ex

amined the functioning of state-owned monopolies such as national utility comp

anies. He laid the theoretical foundation for determining the prices of these

monopolies' products or services in such a way as to offer maximal economic ef

ficiency while still providing optimum social benefits. His principles became

a guiding force for planning state enterprises in terms of prices rather than

by direct (and often politically determined) regulation. Allais's theories thu

s offered to large state monopolies the opportunity to apply efficient market-

economics principles. His work proved particularly important in view of the gr

owth of state-owned monopolies in the economies of western Europe in the decad

es following World War II.
相关链接

http://www.boston.com/globe/search/stories/nobel/1988/1988h.html
http://mars.superlink.net/dialect
http://www.fatemi.com/
http://www.mtsu.edu/~tvs2/allais.html
http://www.selected-directories.com/allais.html
http://www.nobel.se/economics/laureates/1988/allais-autobio.html
http://www.nobel.se/economics/laureates/1988/allais-cv.html

Nobel Prize in Economics：1989

Trygve Haavelmo

http://bbs1.nju.edu.cn/file/trygve_m_haavelmo_1989.jpg
(1911-1999)
经历

Norwegian economist who was a pioneer in what became the field of economic for

ecasting. He was awarded the 1989 Nobel Prize for Economics.
After the outbreak of World War II, Haavelmo left Norway and delivered his doc

toral dissertation, "The Probability Approach in Econometrics," at Harvard Uni

versity in 1941. Although he had two doctorates from the University of Oslo, h

is innovative thesis, cited by the Nobel committee for its influence, was firs

t published in 1944 in Econometrica, an American periodical. Haavelmo worked a

t the University of Chicago during the 1940s (where he was also a visiting pro

fessor in the late 1950s) before returning to Norway in 1947. He retired from

the University of Oslo faculty in 1979, becoming professor emeritus.
贡献

Haavelmo's statistical techniques made possible the development of econometric

models that predict how a change in one aspect of the economy will affect oth

ers; that is, he demonstrated that statistical probability theory could be int

egrated into economic formulations. His econometrics made possible the predict

ions regarding the course of national economies and the more accurate formulat

ion of governmental economic policies.
相关链接

http://www.mtsu.edu/~tvs2/trygve.html
http://www.nobel.se/economics/laureates/1989/haavelmo-bio.html
http://econpapers.hhs.se/HoPEc/4957494949494951848289718669957265658669767779.

htm
http://cepa.newschool.edu/het/essays/capital/invest.htm

Nobel Prize in Economics：1990

Harry M. Markowitz

http://bbs1.nju.edu.cn/file/harry_markowitz_1990.jpg
(1927- )
经历

American finance and economics educator, cowinner (with Merton H. Miller and W

illiam F. Sharpe) of the 1990 Nobel Prize for Economics for theories on evalua

ting stock-market risk and reward and on valuing corporate stocks and bonds.

Markowitz studied at the University of Chicago (Bachelor of Philosophy, 1947;

M.A., 1950; Ph.D., 1954) and then was on the research staff of Rand Corporatio

n, Santa Monica, Calif. (1952-60, 1961-63), where he met Sharpe. He then held

various positions with Consolidated Analysis Centers, Inc., Santa Monica (1963

-68), the University of California at Los Angeles (1968-69), Arbitrage Managem

ent Company, New York City (1969-72), and IBM's T.J. Watson Research Center, Y

orktown Hills, N.Y. (1974-83) before becoming a professor of finance at Baruch

College of the City University of New York (from 1982).
贡献

The research that earned Markowitz the Nobel Prize involved his "portfolio the

ory," which sought to prove that a diversified, or "optimal," portfolio--that

is, one that mixes assets so as to maximize return and minimize risk--could be

practical. His techniques for measuring risk associated with various assets a

nd his techniques for mixing assets became routine investment methods. He also

developed a computer language called Simscript, used to write economic-analys

is programs.
相关链接

http://www.boston.com/globe/search/stories/nobel/1990/1990j.html
http://www.rene-despres.com/artbook/
http://www.rene-despres.com/
http://www.rene-despres.com/EXPO/
http://www.bca.de/Vmainframe.asp?strMenue=Angebot&strUrl=Angebot/PS2/Portfolio

Start.asp&strMenAusw=PortfolioSelectionII
http://ifa.tv/12steps/Step2/Step2Page2.html#
http://pnorthov.future.easyspace.com/
http://finmath.com/
http://www.nobel.se/economics/laureates/1990/markowitz-autobio.html

Merton H. Miller

http://bbs1.nju.edu.cn/file/merton_howart_miller_1990.jpg
(1923- )
经历

American economist who, with Harry M. Markowitz and William F. Sharpe, won the

Nobel Prize for Economics in 1990. His contribution (and that of his colleagu

e Franco Modigliani, who received the Nobel Prize for Economics in 1985), know

n as the Modigliani-Miller theorem, was pioneering work in the field of financ

e theory.
Miller attended Harvard University (B.A., 1944), worked at the U.S. Treasury D

epartment, and then graduated from Johns Hopkins University, Baltimore, Md. (P

h.D., 1952). He taught at the Carnegie Institute of Technology (now Carnegie M

ellon University), Pittsburgh, Pa., until 1961, when he accepted a position as

professor of finance at the University of Chicago's Graduate School of Busine

ss Administration.
贡献

Miller's work was based on the work of Markowitz (whose "portfolio theory" est

ablished that wealth can best be invested in assets that vary in terms of risk

and expected return) and Sharpe (who developed the "capital asset pricing mod

el," a model to explain how securities prices reflect risks and potential retu

rns). The Modigliani-Miller theorem explains the relationship between a compan

y's capital asset structure and dividend policy and its market value and cost

of capital; the theorem demonstrated that how a manufacturing company funds it

s activities is less important than the profitability of those activities. Mil

ler was recognized as one of the most important developers of theoretical and

empirical analysis in the field of corporate finance. In addition to his posit

ion as the business school's Robert R. McCormick distinguished service profess

or, Miller served as a director of the Chicago Mercantile Exchange.
相关链接

http://www.nobel.se/laureates/economy-1990-2-autobio.html
http://www.economist.com/editorial/freeforall/current/sf7252.html
http://www.boston.com/globe/search/stories/nobel/1990/1990j.html
http://www.rene-despres.com/
http://www.ifa.com/12steps/Step2/Step2Page3.html#1990
http://www.personal-selection.com/Miller.html
http://finmath.com/
http://www.nobel.se/economics/laureates/1990/miller-autobio.html
http://www.encyclopedia.com/html/M/Miller-M1.asp

William F. Sharpe

http://bbs1.nju.edu.cn/file/william_f_1990.jpg
(1934- )
经历

American economist who shared the Nobel Prize for Economics in 1990 with Harry

M. Markowitz and Merton H. Miller.
Sharpe was educated at the University of California at Los Angeles, receiving

his Ph.D. in economics there in 1961. He met Markowitz while working at the Ra

nd Corporation (1957-61) and was influenced by the latter's theories. Sharpe s

ubsequently taught economics at the University of Washington in Seattle (1961-

68) and at Stanford University (from 1970) until he retired from teaching to h

ead his own investment consultants' firm.
贡献

Sharpe received the Nobel Prize for his "capital asset pricing model," a finan

cial model that can explain how securities prices reflect risks and potential

returns. Sharpe's theory stressed how the market pricing of risky assets enabl

es them to fit into an investor's portfolio because they can be made to blend

with less risky investments. Sharpe's theories led to the concept of "beta," a

measurement of portfolio risk not overturned by clever diversifying of invest

ments. Investment analysts frequently use "beta" to compare the risk of holdin

g one mix of stocks with that of stocks in general.
相关链接

http://www.boston.com/globe/search/stories/nobel/1990/1990j.html
http://www-gsb.stanford.edu/home.html
http://members.aol.com/jpgale/home.html
http://www.rene-despres.com/
http://www.financialengines.com/
http://www.bca.de/Vmainframe.asp?strMenue=Angebot&strUrl=Angebot/PS2/Portfolio

Start.asp&strMenAusw=PortfolioSelectionII
http://www.derosa-research.com/
http://www.stanford.edu/~wfsharpe/art/djam/djam.htm
http://www.biosysnet.org/
http://www.derosa-research.com/
http://www.ecomentary.com/
http://ifa.tv/12steps/Step2/Step2Page2.html#
http://finmath.com/
http://www.nobel.se/economics/laureates/1990/sharpe-autobio.html
http://www.eumed.net/cursecon/economistas/sharpe.htm
http://ideas.repec.org/e/psh27.html

Nobel Prize in Economics：1991

Ronald H. Coase

http://bbs1.nju.edu.cn/file/ronald_harry_coase_1991.jpg
(1910- )
经历

British-born American economist, who was awarded the Nobel Prize in Economics

in 1991.
Coase received a bachelor of commerce degree from the London School of Economi

cs in 1932 and a doctorate in economics from the same school in 1951. After le

ctureships in various schools, he taught at the London School of Economics (19

35-51), the University of Buffalo (New York, U.S.; 1951-58), the University of

Virginia, Charlottesville (1958-64), and the University of Chicago (from 1964

), where he became professor of economics in the law school, taught at the Gra

duate School of Business, and was editor of the Journal of Law and Economics f

rom 1964 to 1982.
贡献

Coase did pioneering work on the ways in which transaction costs and property

rights affect business and society. In his most famous paper, "The Problem of

Social Cost" (1960), he challenged the classic logic of prohibiting behaviour

that damages others. His work was a call to legal scholars to pay attention to

the importance of an efficient marketplace and to negotiation rather than lit

igation. The Royal Swedish Academy of Sciences cited Coase for this research a

nd also for "pioneering the study of how property rights are distributed among

individuals by law, contract, and regulations, showing that this determines h

ow economic decisions are made and whether they will succeed.”
相关链接

http://www.boston.com/globe/search/stories/nobel/1991/1991f.html
http://www.boston.com/globe/search/stories/nobel/1991/1991i.html
http://www.uccs.edu/~kmfreckl/coase.html
http://www.torget.se/users/m/Mass/networking.html
http://www.mtsu.edu/~tvs2/coase.html
http://www.reasonmag.com/9701/int.coase.html
http://www.nobel.se/economics/laureates/1991/coase-autobio.html
http://www.econlib.org/library/Enc/bios/Coase.html
http://www.hmco.com/college/economics/boyes_melvin/macro/student/coase.htm

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