I was born Vernon Lomax Smith in Wichita, on the flat plains of Kansas, January 1, 1927 in the years leading to the Great Depression. Like many of my generation I am a product of the strange circumstances of survival, and of successes built on tragedy. This narrative is written from memory and...

Information for the Public, The Prize in Economic Sciences 2006. Full employment, stable prices and rapid growth are central goals of economic policy. But policy always faces difficult goal conflicts. How should inflation and unemployment be balanced against each other? What tradeoff should be...

Akerlof, Spence and Stiglitz's analyses form the core of modern information economics. Their work transformed the way economists think about the functioning of markets. The analytical methods they suggested have been applied to explain many social and economic institutions, especially different...

Traditionally, economic theory has relied on the assumption of a "homo oeconomicus", whose behavior is governed by self-interest and who is capable of rational decision-making. Economics has also been regarded as a non-experimental science, where researchers -- as in astronomy or meteorology --...

I was born in Swansea in the Principality of Wales in September 1934 and named Clive William John Granger. The "William John" names were traditional Granger boy's names and my mother liked the name Clive because some popular musician at the time had it. My father, Edward John Granger, and with...

Advanced information on Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2006. The relationship between inflation and unemployment and the trade-off between the welfare of current and future generations are key issues in macroeconomic research. They have a strong influence...

The work cited by the Nobel committee was done jointly with the late Amos Tversky (1937-1996) during a long and unusually close collaboration. Together, we explored the psychology of intuitive beliefs and choices and examined their bounded rationality. This essay presents a current perspective...

Being awarded the Prize in Economic Sciences in Memory of Alfred Nobel is a beautiful, fairy-tale experience, from beginning to end. It is not, however, conducive to research, writing, teaching, or indeed to any ordinary academic work. Instead, one is besieged by hundreds â indeed thousands...

I was born April 14, 1921, in Oakland California, spent most of my boyhood in California, with three years in the east and two in the Panama Canal Zone, my father being a naval officer. I attended the University of California, Berkeley (with two years out in Chile), graduating in economics in...

Advanced information on the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, 2003. Empirical research in macroeconomics as well as in financial economics is largely based on time series. Ever since Economics Laureate Trygve Haavelmo's work it has been standard to view...