Showing posts sorted by date for query Kuznets OR Crick. Sort by relevance Show all posts
Showing posts sorted by date for query Kuznets OR Crick. Sort by relevance Show all posts

Wednesday, June 22, 2022

Russian Journalist’s Nobel Medal Sells for $103.5 Million, with proceeds to UNICEF for Ukrainian refugees.

 The NYT has the story: it exemplifies quite a number of things (including jump bidding in a reserve price charity auction...)

Russian Journalist’s Nobel Medal Sells for $103.5 Million. Dmitri A. Muratov, the editor of the independent newspaper Novaya Gazeta, will donate proceeds to UNICEF to help Ukrainian child refugees.  By Kalia Richardson

"The Nobel Peace Prize put up for auction by the Russian journalist Dmitri A. Muratov to help Ukrainian refugees sold Monday night for $103.5 million to an anonymous buyer, obliterating the record for a Nobel medal.

"The proceeds from the auction will go to UNICEF to aid Ukrainian children and their families displaced by Russia’s invasion of their country.

"Mr. Muratov is the editor in chief of the independent newspaper Novaya Gazeta, which suspended publication in March in response to the Kremlin’s increasingly draconian press laws. In an interview with The New York Times last month, he said he was inspired to auction the award he won last year by the Danish physicist Niels Bohr, who sold his medal to help civilian relief in Finland following the Soviet invasion of that country in 1939.

...

"The previous record for auctioning off a Nobel medal came in 2014, when the prize belonging to James Watson, who shared in the discovery of the double-helix structure of DNA, sold for $4.1 million ($4.76 million, including the commission that goes to the auction house).

"Heritage Auctions, which handled the sale of Mr. Muratov’s medal, has sold five former Nobel Prizes, including the one awarded to Watson’s co-discoverer, Francis Crick. That medal sold for $2.27 million in 2013.

"Josh Benesh, the chief strategy officer for Heritage Auctions, which will not take a commission on the sale, said he was flabbergasted by the final price. The bidding had been mainly cruising along in increments of $100,000 or $200,000 when it suddenly spiked from $16.6 million to $103.5 million. Gasps filled the room when a Heritage Auctions employee manning the phone relayed the figure"

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Here's the Heritage Auction site:

 The Dmitry Muratov Nobel Peace Prize Charity Auction to Benefit UNICEF's Child Refugee Fund #790 / Lot #1

Here are some posts about earlier sales of Nobel prize medals, some by economists:

Saturday, October 26, 2019

Auction results: Nobel medals of John Nash and Reinhard Selten


Posted by Al Roth at 5:44 AM 0 comments
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Saturday, October 19, 2019

Auction of John Nash and Reinhard Selten Nobel medals and memorabilia at Christie's, Oct 25

Great scholars pass away, and their estates need to put their affairs in order.
The auction house Christie's has several lots for sale, including the Nobel medals of John Nash and Reinhard Selten, and some items of Nash's work.

Here's Christie's front page for these auctions:
A ‘beautiful mind’ and his Nobel Prize
As Christie’s offers the medal given to John Nash in 1994, his biographer Sylvia Nasar reveals how he was nearly denied the prize that arguably saved his life

Here are the particular lots for sale:
LOT61|Sold in part to Benefit the John C.M. Nash Trust
For his brilliant insight into human behavior
JOHN FORBES NASH, JR., 1994
Estimate
USD 500,000 - USD 800,000
"The Nobel Prize and diploma are together with the following items relating to the ceremony: Typed letter signed, 11 October 1994, from the Royal Swedish Academy of Sciences, notifying Nash of his award; Nash's copy of Les Prix Nobel 1994, Stockholm: Nobel Foundation, 1995; Nash's handwritten dimensions for his formal attire, signed ("John Forbes Nash"), one page, c.October 1994; and Nash's nametag ("Dr. John F. Nash, Economics") bearing the Nobel logo."


LOT62|Sold in part to Benefit Scholarships to the California Institute of Technology
For refining Nash's work
REINHARD SELTEN, 1994
Estimate
USD 200,000 - USD 300,000
"The Nobel Prize and diploma are together with a group of 11 photographs of Dr Selten, all 1990s-2000s, various sizes, including shots of him teaching as well as accepting his Nobel Prize.

Fifty percent of the net proceeds of this sale (after all seller’s costs) will be donated to be used as financial aid for gifted students in mathematics and information technology from Eastern Europe studying at the California Institute of Technology."



LOT60 |THIS LOT IS SOLD IN PART TO BENEFIT THE NATIONAL ALLIANCE ON MENTAL ILLNESS
Nash's doctoral thesis
NON-COOPERATIVE GAMES, 1951
Estimate
USD 3,000 - USD 5,000
"Octavo (258 x 173mm). Original orange stapled wrappers (some light soiling to covers, a little rusting to staples). Provenance: John Forbes Nash, Jr."


LOT59|THIS LOT IS SOLD IN PART TO BENEFIT THE NATIONAL ALLIANCE ON MENTAL ILLNESS
Nash's first great contribution to Game Theory
FROM THE LIBRARY OF JOHN FORBES NASH, JR., 1950S
Estimate
USD 2,500 - USD 3,500
"A group of rare offprints from Nash's personal library, two of them annotated. "The Bargaining Problem" is annotated by Nash on the first page where he has commented "a bad choice of phrasing" next to the line "that they are equal in bargaining skill." Contributions to the Theory of Games, which includes Nash and Shapley's "A Simple Three-Person Poker Game" (for which an offprint is also present) has Nash's ownership signature on the first page."

LOT58|THIS LOT IS SOLD IN PART TO BENEFIT THE NATIONAL ALLIANCE ON MENTAL ILLNESS
''I think you will really go places''
JOHN FORBES NASH, JR., C.1940S
Estimate
USD 800 - USD 1,200
"A high school trigonometry paper replete with encouraging words from Nash's teacher, and retained by Nash for the rest of his life"

LOT64|THIS LOT IS SOLD IN PART TO BENEFIT THE NATIONAL ALLIANCE ON MENTAL ILLNESS
A handwritten history of Game Theory at Princeton
JOHN FORBES NASH, JR., 2000S
Estimate
USD 2,000 - USD 3,000
"Nash's handwritten lecture on Game Theory at Princeton University. At the time of his death in 2015, Nash had been associated with Princeton for nearly 70 years, first as an ingenious doctoral student and for the final ten years of his life as a senior research mathematician. After winning the Nobel Prize in 1994, Nash entered a long period of renewed activity and confidence, and here he looks back on the field. His overview begins with the contributions of French mathematician and politician Emile Borel followed by Princeton colleagues John von Neumann and Oskar Morgenstern (he notes that von Neumann "entered the picture" in 1928, the year of his own birth). Nash comments that "scientific concepts often are discovered in stages," and credits Antoine Augustin Cournot and Frederik Zeuthen's work ahead of his own, as well as Shizuo Kakutani's fixed-point theorem. He also touches on the work of Albert Tucker, Alvin Roth, David Gale, Robert Aumann, and Lloyd Shapley."
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I hope to update these items.  In the meantime, some related previous posts, including previous auctions that didn't meet the reserve price:

Saturday, September 3, 2016


Sotheby's to Offer John F. Nash, Jr.'s 1994 Nobel Memorial Prize in Economic Sciences

Sunday, April 28, 2019


Hayek at auction at Sothebys


Tuesday, April 23, 2013 Crick's Nobel medal, and letter to his son describing DNA


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Update:

Saturday, October 26, 2019

Auction results: Nobel medals of John Nash and Reinhard Selten

The auction is over, and (unlike in some previous auctions) all of the items sold.  The highest profile items, namely the Nobel medals and diplomas, went for $735,000 (Nash) and 225,000 (Selten).

 

Posted by Al Roth at 3:34 AM 0 comments
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Sunday, April 28, 2019

Hayek at auction at Sothebys

It closed last month, but you can still take a look at the outcome of Sotheby's sale called
Friedrich von Hayek: His Nobel Prize and Family Collection
ONLINE BIDDING CLOSED19 Mar 2019 |
Sale L19409

"Sotheby’s is honoured to offer the Nobel Prize and Family Collection of Friedrich August von Hayek (1899-1992). Hayek was a towering intellectual figure of the twentieth century and his writings have had a profound impact in shaping the modern world. He was awarded the Nobel Prize in 1974 for “pioneering work in the theory of money and economic fluctuations”. This month sees the 75th anniversary of his seminal work, The Road to Serfdom."

Despite the title of the sale, Hayek's Nobel medal doesn't seem to have been on offer, although his U.S. Presidential Medal of Freedom , awarded by President George H.W. Bush in 1991, went for 112,500 GBP.

The most expensive item was his annotated copy of Adam Smith's Wealth of Nations, for which the hammer came down at 150,000 GBP.

The auction notes state:
"Hayek’s underlining includes phrases from the first paragraph of Chapter II which reads “This division of labour, from which so many advantages are derived, is not originally the effect of any human wisdom, which foresees and intends that general opulence to which it gives occasion. It is the necessary, through very slow and gradual consequence of a certain propensity in human nature which has in view no such extensive utility; the propensity to truck, barter, and exchange one thing for another.” (p.12) and later “it is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.” (p.13)."
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I've blogged about previous Nobel auctions:

Thursday, October 27, 2016 Re-auction of Kenneth Wilson's, 1982 Nobel medal for Physics

Thursday, February 26, 2015 Kuznets' Nobel Prize medal auction

Posted by Al Roth at 5:55 AM 0 comments
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Friday, December 1, 2017

New AEA Journal--American Economic Review: Insights

The American Economic Society announces a new journal today: American Economic Review: Insights

Here's the call for papers:

The newest journal of the American Economic Association, American Economic Review: Insights, invites submissions.

Editor

Amy Finkelstein, Massachusetts Institute of Technology

Coeditors

Pete Klenow, Stanford University
Larry Samuelson, Yale University

Board of Editors

Alberto Abadie, Massachusetts Institute of Technology
Andrew Atkeson, University of California, Los Angeles
Markus K. Brunnermeier, Princeton University
Eric Budish, University of Chicago
Pascaline Dupas, Stanford University
Paul J. Healy, Ohio State University
Nathaniel Hendren, Harvard University
Hilary Hoynes, University of California, Berkeley
Navin Kartik, Columbia University
Ted O'Donoghue, Cornell University
Andrés Rodríguez-Clare, University of California, Berkeley
Jesse Shapiro, Brown University
Andrzej Skrzypacz, Stanford University
Jón Steinsson, Columbia University
AER: Insights is designed to be a top-tier, general-interest economics journal publishing papers of the same quality and importance as those in the AER, but devoted to publishing papers with important insights that can be conveyed succinctly.

Papers in economics have grown substantially in length over the last four decades, leaving little scope to publish the important paper whose central contribution can be concisely presented. Yet, sometimes the most important findings are those that require little room. Paul Samuelson's landmark paper on the efficient provision of public goods was only three pages in the 1954 Review of Economics and Statistics. Further afield from economics, Watson and Crick's discovery of the Double Helix was presented in less than two pages in the 1953 Nature.

AER: Insights will target the turnaround times of the most efficient journals in our profession––with an aim to get all first responses within three months at most. More novelly, first responses will be either a reject or a "conditional accept," with no lengthy responses to referees required nor a second round of comments from referees on the revision. The Editor's requests with a conditional accept will be limited to expositional changes only; to self-enforce this norm, editors will ask for revisions back from the authors within eight weeks. Short papers. Short revisions.

Submissions must be <=6,000 words and have a maximum of five exhibits (figures or tables). The word count is based on the main text, including footnotes but excluding references, title, author names, abstract, the acknowledgement footnote, exhibit notes, keywords, and JEL codes. For reference, in Microsoft Word, 6,000 words is about 15 double-spaced pages of text using 11 point Times New Roman font and 1 inch margins and with additional pages for exhibits and references. As another point of reference, 6,000 words of text is about one-third the length of a typical AER article in recent years. The abstract should be <= 100 words.

Length limits on submissions and revisions will be strictly enforced. Online appendix materials are allowed (of unlimited length); but if referees or the Editor do not feel able to evaluate the essential elements of the paper from the main text alone, that will be grounds for rejection.

The aim of AER: Insights is to provide a high quality outlet for important yet concise contributions to economics, both empirical and theoretical.

To view the full Submission Guidelines for AER: Insights, please visit https://www.aeaweb.org/journals/aeri/submissions. To submit your paper, please go to https://mc.manuscriptcentral.com/aer-insights. Please contact Managing Editor, Kelly Markel (k.markel@aeapubs.org), with any questions.
Posted by Al Roth at 3:30 AM 0 comments
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Thursday, February 26, 2015

Kuznets' Nobel Prize medal auction

The auction of the medal that Simon Kuznets received with his Nobel Prize in Economics in 1971 ended this evening.

The auction had a minimum bid of $150,000, and a soft close, i.e. the closing time was extended for 30 minutes (I think) beyond the last bid. All the bids were made on the last day, and the auction was extended for several bids before reaching the final price of $385,848.
Posted by Al Roth at 8:40 PM 1 comments
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Sunday, April 6, 2014

Classifying Economics Nobels

Someone at the Nobel Foundation has compiled a list of Nobel prizes by fields, with a definition of "field" taken from the one-line prize citation. It makes for a lot of fields...so it may be subject to change. Here's what it looked like recently:

Applied game theory (1)

"for the theory of stable allocations and the practice of market design"

Development economics (2)

"for their pioneering research into economic development research with particular consideration of the problems of developing countries"
"for their pioneering research into economic development research with particular consideration of the problems of developing countries"

Econometrics (8)

"for having developed and applied dynamic models for the analysis of economic processes"
"for having developed and applied dynamic models for the analysis of economic processes"
"for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures"
"for his development of theory and methods for analyzing selective samples"
"for his development of theory and methods for analyzing discrete choice"
"for methods of analyzing economic time series with time-varying volatility (ARCH)"
"for methods of analyzing economic time series with common trends (cointegration)"
"for their empirical analysis of asset prices"

Economic governance (2)

"for her analysis of economic governance, especially the commons"
"for his analysis of economic governance, especially the boundaries of the firm"

Economic growth (1)

"for his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and social structure and process of development"

Economic growth theory (1)

"for his contributions to the theory of economic growth"

Economic history (3)

"for his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and social structure and process of development"
"for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change"
"for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change"

Economic psychology (2)

"for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty"
"for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms"

Economic sociology (1)

"for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including nonmarket behaviour"

Economics of information (5)

"for their fundamental contributions to the economic theory of incentives under asymmetric information"
"for their fundamental contributions to the economic theory of incentives under asymmetric information"
"for their analyses of markets with asymmetric information"
"for their analyses of markets with asymmetric information"
"for their analyses of markets with asymmetric information"

Experimental economics (2)

"for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty"
"for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms"

Financial economics (8)

"for their pioneering work in the theory of financial economics"
"for their pioneering work in the theory of financial economics"
"for their pioneering work in the theory of financial economics"
"for a new method to determine the value of derivatives"
"for a new method to determine the value of derivatives"
"for their empirical analysis of asset prices"
"for their empirical analysis of asset prices"
"for their empirical analysis of asset prices"

Game theory (6)

"for their pioneering analysis of equilibria in the theory of non-cooperative games"
"for their pioneering analysis of equilibria in the theory of non-cooperative games"
"for their pioneering analysis of equilibria in the theory of non-cooperative games"
"for having enhanced our understanding of conflict and cooperation through game-theory analysis"
"for having enhanced our understanding of conflict and cooperation through game-theory analysis"
"for the theory of stable allocations and the practice of market design"

General equilibrium theory (3)

"for their pioneering contributions to general economic equilibrium theory and welfare theory"
"for their pioneering contributions to general economic equilibrium theory and welfare theory"
"for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium"

Industrial organization (1)

"for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation"

Input-Output analysis (1)

"for the development of the input-output method and for its application to important economic problems"

Institutional economics (2)

"for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena"
"for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena"

International and regional economics (1)

"for his analysis of trade patterns and location of economic activity"

International economics (2)

"for their pathbreaking contribution to the theory of international trade and international capital movements"
"for their pathbreaking contribution to the theory of international trade and international capital movements"

International macroeconomics (1)

"for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas"

Labor economics (3)

"for their analysis of markets with search frictions"
"for their analysis of markets with search frictions"
"for their analysis of markets with search frictions"

Macroeconometrics (3)

"for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies"
"for their empirical research on cause and effect in the macroeconomy"
"for their empirical research on cause and effect in the macroeconomy"

Macroeconomics (9)

"for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena"
"for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena"
"for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy"
"for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices"
"for his pioneering analyses of saving and of financial markets"
"for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy"
"for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles"
"for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles"
"for his analysis of intertemporal tradeoffs in macroeconomic policy"

Management science (1)

"for his pioneering research into the decision-making process within economic organizations"

Microeconomics (4)

"for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including nonmarket behaviour"
"for having laid the foundations of mechanism design theory"
"for having laid the foundations of mechanism design theory"
"for having laid the foundations of mechanism design theory"

National income accounting (1)

"for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis"

Partial and general equilibrium theory (2)

"for the scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science"
"for his pioneering contributions to the theory of markets and efficient utilization of resources"

Public finance (1)

"for his development of the contractual and constitutional bases for the theory of economic and political decision-making"

Theory of market institutions (1)

"for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy"

Theory of optimal allocation of resources (2)

"for their contributions to the theory of optimum allocation of resources"
"for their contributions to the theory of optimum allocation of resources"

Welfare economics (1)

"for his contributions to welfare economics"

Welfare theory (2)

"for their pioneering contributions to general economic equilibrium theory and welfare theory"
"for their pioneering contributions to general economic equilibrium theory and welfare theory"

Posted by Al Roth at 5:48 AM 0 comments
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