While Eugene Francis Fama attributed the difficulty in short-run predictions to efficient markets and Robert James Shiller contradicted him by holding...

While the prolific game theorist Lloyd Stowell Shapley laid out the theoretical ground in the form of Gale-Shapley algorithm, Alvin Elliot Roth...

Analysing the effects of external shocks on macroeconomy, Thomas John Sargent factored in rational expectations and their impact, while Christopher...

Diamond, Mortensen and Pissarides formulated a theoretical framework for search markets in which buyers and sellers do not always make contact with...

While Elinor Ostrom dealt with overcoming collective action dilemmas in managing natural resources, Oliver Eaton Williamson is well-known for building...

Taking cue from the growing intra-industry trade, Paul Robin Krugman incorporated economies of scale and consumers’ preference for diverse goods to...

While Leonid ‘Leo’ Hurwicz gave the theory of incentive compatibility in mechanism design, Eric Stark Maskin and Roger Bruce Myerson extended his work...

Apart from providing microeconomic foundation to macroeconomic theories, Edmund Strother Phelps, going beyond the Keynesian hypothesis, clarified the...

While Robert John Aumann applied his mathematical skills to developing his works on repeated games, Thomas Crombie Schelling laid out simple and lucid...

Contrary to the Keynesian view that changes in aggregate demand drove business cycles, the works of Finn Erling Kydland and Edward Christian Prescott...

Robert Fry Engle III and Clive William John Granger introduced innovative methods — with time varying volatility and cointegration respectively — of...

The works of both Daniel Kahneman and Vernon Lomax Smith challenged the assumptions of neoclassical framework; while the former applied psychological...