The two prize winners in Economics this year would describe themselves as "Econometricians," so I thought that I should start by explaining that term. One can begin with the ancient subject of Mathematics which is largely concerned with the discovery of relationships between deterministic...

Eric S. Maskin delivered his Prize Lecture on 8 December 2007 at Aula Magna, Stockholm University. He was introduced by Professor Jorgen Weibull, Chairman of the Economics Prize Committee.

This paper summarizes the contributions of microeconometrics to economic knowledge. Four main themes are developed. (1) Microeconometricians developed new tools to respond to econometric problems raised by the analysis of the new source of microdata produced after the Second World War. (2)...

This Nobel lecture discusses the microeconometric analysis of choice behavior of consumers who face discrete economic alternatives.Before the 1960's, economists used economic theory mostly as a logical tool, to explore conceptually the properties of alternative market organizations and economic...

Advanced Information. Microeconometric research is concerned with empirical analysis of the economic behavior of individuals and households, such as decisions on labor supply, consumption, migration or occupational choice. Microeconometric methods are equally relevant in studies of individual...

My wife Beverlee Tito Simboli and I married in 1962. We have three grown children, Nina, Robert, and Raymond, and three grandchildren, Emily, Anne, and Daniel William. Beverlee is a photographer who is best known for her large-format Polaroid works with industrial and abstract subjects. She is...

Information for the Public. This year's Laureate is awarded the Prize for his research on international trade and economic geography. By having shown the effects of economies of scale on trade patterns and on the location of economic activity, his ideas have given rise to an extensive...

To what extent should the government intervene in the marketplace? Economists often consider fiercely competitive markets to be in the public interest. When producers in such markets strive to earn a profit, they are led — as if by an invisible hand — to deliver high quality at low cost. But...