Tuesday, October 04, 2005


Nobel Prize Nausea

Yes, dear folks.. 'tis the time of year again...

So bring out the betting service among your friends. This German site is handing out odds for some of the most prominent economists out there. Eugene Fama is high up there, together with Robert Barro, Oliver Williamson and ... Paul Krugman (!). Man! I remember when I read Krugman-Obstfelt's course book on international trade and monetary policies. Now anybody can read Krugman lamenting about just about everything in the New York Times. It's pretty far away from sound economic reasoning, but, well, there it is... the market has obviously outperformed itself again in resource allocation... Krugman to NY Times - what other proofs do we really need for market efficiency?

Let's just say that I would like to pull for my old professor Tullock (professor Cowen's comments here) who is trailing on the German Nobel Prize exchange (his shares are only up by 4 dollars).

The announcement will be made on Monday, October 11th, 2 PM European Time (that's 8 PM for all you crazy Americans on the East Coast ;) ).

In the meantime, try to revive those old memories from your first class in Economics, by playing the Heckscher-Ohlin trading game from the Nobel Prize Foundation's web site.

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