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...

George Akerlof, Michael Spence and Joseph Stiglitz applied the concept of information asymmetry to wide-ranging areas, enabling a more real-world...

While James Joseph Heckman devised a method for analysing selective samples and did research on effects of early childhood care on health, Daniel...

Chiefly known for dynamic analysis of fiscal and monetary policy under different exchange rate regimes, Robert Alexander Mundell made fundamental...

Amartya Sen transcended the boundaries of the discipline of economics, exuding a high degree of humanitarian concern, through his still-relevant works...

Amid the wide-ranging works of Robert Cox Merton and Myron Samuel Scholes in financial theory, the valuation of options by eliminating the need of...

Based on the concept that two parties involved in an economic transaction share differing information — works of James Mirrlees and William Vickrey...

Based on the foundation stone of his rational expectations hypothesis, Robert E Lucas' works transformed the way we perceive macroeconomic analysis

John Forbes Nash, John Charles Harsanyi and Reinhard Selten expanded the frontiers of game theory by analysing the equilibria in non-cooperative games

Through the application of a statistical approach to economic history, Robert William Fogel and Douglass Cecil North traced various facets of...