It’s been a week of celebrations at Berkeley following the announcement that the Nobel Prize in Economics was shared by my friend and colleague, Oliver (Olly) Williamson. Certainly, many outside the field are asking three simple questions: First, what did Olly do? Second, why was it path-breaking? And most importantly, what does this have to … Continue reading »
The New Nobels: Small steps toward integrated social science
I got a kick out of learning that Eleanor Ostrom and Berkeley’s Oliver Williamson won the Nobel in Economics. I had a similar response when the Psychologist, Dan Kahneman, won the prize. These are important steps in the expansion of economics and establishing an integrated social science based on rigorous logical thinking and empiricism. This … Continue reading »