ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Nobel in Auction

The 2020 Nobel Prize in Economics was awarded to Paul R Milgrom and Robert B Wilson for their contribution to auction theory. Auction designs end up helping private and public players to make a valuation of a public good and, hence, create a market that did not exist beforehand, which quite often overlooks the underlying concrete social and environmental concerns.

A Poet and a Landlord

The Nobel Prize for Literature awarded to Rabindranath Tagore in 1913 included a prize money of £8,000. It is commonly assumed that Tagore spent this entire sum on the asrama school in Santiniketan, and later for setting up his dream project – the Visva-Bharati University. The truth, however, is quite different. This note attempts to revisit the “will” of the poet, arguing that his decision regarding the investment of the substantial sum reveals a complex story in which the need of the peasants of his zamindari and that of the community in Visva-Bharati were held in a delicate ethical balance.

Inexact Can Be Nobel

The decisions of successive Nobel committees seem to confirm that economics is an inexact science and it is best that we 'triangulate' our findings from a certain method with those from other techniques.

Did Hayek Deserve the Nobel Prize?

Friedrich Hayek (A Biography) by Alan Ebenstein; Palgrave for St Martin’s Press, New York, 2001; pp 403 (hardback), price not stated.
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