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Columbia University Faculty - Nobel Prize Winner in Economics



Edward Phelps at the Nobel Prize Ceremony

Copyright © The Nobel Foundation 2006Photo: Hans Mehlin


Edmund S. Phelps

McVickar Professor of Political Economy, Columbia University
Appointment at Columbia University : Professor of Economics, 1971-present
Price motivation : for his analysis of intertemporal tradeoffs in macroeconomic policy
Contribution : Deepened our understanding of the relationship between short-term and long-term effects of macroeconomic policy.
Price year: 2006
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Joseph Stiglitz at the Nobel Prize ceremony

Copyright © The Nobel Foundation 2001Photo: Hans Mehlin

Joseph E. Stiglitz (George A. Akerlof, A. Michael Spence)

united states v. eichman

University Professor, Columbia University
Appointment at Columbia University : Professor of Economics, 2001-present
Price motivation : for your analysis of markets with asymmetric information.
Contribution : It has been shown that asymmetric information can be key to understanding many observed market phenomena, including unemployment and credit rationing.
Price year: 2001
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James J. Heckman receives his Prize from His Majesty the King at the Stockholm Concert Hall 2000.

Copyright © Nobelstiftung 2000 Photo: Hans Mehlin

James J. Heckman

Appointment at Columbia University: Professor of Economics, 1970-1974
Price motivation : for his development of theories and methods for analyzing selective samples
Contribution : Development of methods for the statistically satisfactory handling of selective samples. He also showed how similar methods can be used to assess the impact of public employment programs and education programs, and to estimate the effect of length of unemployment on the likelihood of finding a job.
Price year: 2000
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Foundation, endowment


Robert A. Mundell after receiving his award from His Majesty the King. Copyright © The Nobel Foundation 1999

Photo: Hans Mehlin

Robert A. Mundell

over the rainbow movie

Appointment at Columbia University: Professor of Economics, 1974-present
Price motivation : for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimal currency areas
Contribution : Analyzed international macroeconomic policies and showed the importance of the exchange rate regime and how barriers to migration and capital movements stimulate commodity trade.
Price year: 1999
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William Vickrey

Photo: Photo taken by Joe Pineiro.

William Vickrey (James A. Mirrlees)

Appointment at Columbia University: Professor of Economics, 1958-1982
Price motivation : for their fundamental contributions to the economic theory of incentives under asymmetric information
Contribution : Developing methods to analyze the problems of incomplete or asymmetrical information. Specialized in auction theory.
Price year: nineteen ninety-six
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papers : http://www.columbia.edu/cu/lweb/eresources/archives/rbml/Vickrey/


Gary Becker works on a blackboard

Photo: Courtesy of Joe Sterbenc / Becker Friedman Institute

Gary Becker

Appointment at Columbia University: Economics professor, 1957-1969.
Price motivation : for extending the field of microeconomic analysis to a wide range of human behavior and interaction, including non-market behavior
Contribution : Expanded the field of economic theory to include aspects of human behavior previously worked on by other social science disciplines such as sociology, demography and criminology.
Price year: 1992
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Becker Friedman Institutman

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Franco Modigliani

Foto: Massachusetts Institute of Technology.

Franco Modigliani

Appointment at Columbia University : Instructor, 1942
Price motivation : for his groundbreaking analyzes of savings and financial markets
Contribution : Developed sub-models of private consumption and the financial sector, examined the consequences of demographic change and economic growth for saving households and laid the foundation for corporate finance.
Price year : 1985
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George Stigler (right) with students

Foto: Special Collections Research Center, The University of Chicago Library.

George J. Stigler

Appointment at Columbia University : Professor of Economics, 1947-1958.
Price motivation : for his groundbreaking studies on industrial structures, the functioning of markets, and the causes and effects of public regulation
Contribution : Fundamental contributions to the study of market processes and the analysis of the industry structure.
Price year: 1982
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