Here is my short list, relating to choice and decision theory (very
broadly speaking). All are HET milestones. The first and third by Arrow have
also had a deep policy impact. (On the latter side, Stigler’s almost
entire production would
qualify).
Arrow, K.J. (1959), “Economic welfare and the allocation of
resources for invention”, Rand Corporation, P-1856-RC.
Arrow, K.J. (1959), ‘Toward a theory of price adjustment’,
in Abramovitz, M. et al., The Allocation of
Economic Resources, Stanford ,
CA : Stanford University Press,
41–51.
Arrow, K.J. (1963–64 [1953]), ‘The role of securities in
the optimal allocation of risk-bearing’, Review
of Economic Studies, 31,
91–6.
Arrow, K.J. and Debreu, G. (1954), ‘Existence of an equilibrium
for a competitive economy’, Econometrica,
20, 265–90.
Ellsberg, D. (1961), ‘Risk, ambiguity and the Savage
axioms’, Quarterly Journal of
Economics, 75,
643–69.
Kahneman D. and Tversky A. (1979), “Prospect theory: an analysis
of decision under risk”, Econometrica,
47, 263-92.
Muth, J.F. (1961), ‘Rational expectations and the theory of price
movements’, Econometrica, 29 (3), 315–35.
Nash, J.F. Jr. (1951), ‘Non-cooperative games’, Annals of Mathematics, 54, 286–95.
Samuelson, P.A. (1938a), ‘A note on the pure
theory of consumer’s behaviour’, Economica,
5, 61–71.
Nicola Giocoli
Da: Societies
for the History of Economics [mailto:[log in to unmask]] Per conto di Bruce Larson
Inviato: sabato 8 marzo 2014 16.38
A: [log in to unmask]
Oggetto: [SHOE] Microeconomic
Papers and Policy
This fall I will be
teaching a seminar for about 12 undergraduate majors in economics, mostly
seniors, who have had intermediate microeconomics. The course is intended
to be "A critical examination of primary works that have figured in the
development of economic theory and policy." It will meet for
discussion about 25 times with each class being 75 minutes.
What I would like to
provide is a course entitled "Microeconomic Papers and Policy."
I am a microeconomist, as well as a historian of economic thought, and I
would like to utilize my strengths. I am restricting this to papers
because I would like students to read whole works and a variety of them, so we
can discuss them in seminar style (I'm not going to lecture).
So here is my question: "What microeconomic papers stand out for you as
having played an important role in the development of economic thought and policy?" I
have used the word ''thought' rather than 'theory' to broaden things out.
Here are two specific
examples that suggest what I am looking for:
Milton Friedman,
"The Role of Government in Education," in Capitalism and Freedom (1962).
James Meade, "External
Economies and Diseconomies in a Competitive Situation," (1952).
Both of these paper were
important when written and remain part of contemporary thinking. Of
course, the work of Ronald Coase and Thomas Schelling provide many additional
possibilities.
Let me say that I am not
tied to any particular microeconomic tradition, so all perspectives are
welcome. Would you be willing to make a suggestion or two? Thanks
for your consideration!
University of North
Carolina at Asheville