text/"Tsinghua Financial Review" editorial department Wang Mao and Ding Kaiyan
According to the news released by the official website of the Nobel Prize Committee, the results of the 2022 Nobel Prize selection will be announced one after another from October 3 to 10. Among them, the NobelMemorial Prize in Economic Sciences ( Swedish Central Bank commemorating the Alfred Nobel Prize in Economics), will be announced at 11:45 on October 10, local time, that is, 17:45 on October 10, Beijing time.
Can the Nobel Prize in Economics continue the "down-to-earth" style?
Review the 2021 Nobel Prize in Economics, which was divided into two parts: part of it belongs to David Card, "to recognize his empirical contribution to labor economics "; the other part was jointly awarded to Joshua D. Angrist and Quido W. Inbens, "to recognize their methodological contribution to causal analysis."
In recent years, the Nobel Prize in Economics has gradually moved from theory to practice, making the seemingly "cold" economics more "down-to-earth" and used to guide and lead people's daily lives. For example, Paul Milgrom and Robert Wilson won the award for improving auction theory and designing a reasonable auction model.
The synchronous multi-round auction (SMRA) they invented has brought huge benefits to radio channel sales worldwide. In addition, this auction model can also be used for government electricity and natural gas auctions, benefiting buyers, sellers and taxpayers around the world.
It can be seen from this that the Nobel Prize in Economics has become more and more pragmatic and more "down-to-earth", which can help and lead everyone to solve the problems of high latitudes in reality. Compared with the "cool" economic theory, theories that can be implemented may benefit mankind more than the "cool" economic theory.
Can the new international trade theory, represented by the theory of heterogeneous enterprises, be won? Who will win the award,
, which has attracted much attention from the global economic circle? According to the award preferences in previous years, "Tsinghua Financial Review" has made a brain-breaking guess. Can the new international trade theory represented by the theory of heterogeneous enterprises be expected to win the championship?
The global economy is currently in a period of deep fluctuation and adjustment, and globalization is facing severe challenges. The world's multipolarization and economic globalization are moving forward in a difficult situation. Geopolitical conflicts between Russia and Ukraine are constantly occurring, the haze of terrorism, the misfortune of armed conflicts, unilateralism and protectionism are becoming more and more intense, multilateralism and multilateral trading system are being severely impacted and challenged, and some countries and regions have even sacrificed the banner of "protectionism".
At the same time, the global COVID-19 epidemic continues to recur and the number of new coronavirus mutations increases, which brings new uncertainty to the development of global political and economic situations. Affected by this, global trade trends have become the focus of world attention. Therefore, among the 2022 Nobel Prize in Economics, the new trade theory of international trade has attracted attention from the enterprise level.
New Trade Theory follows the assumption of the monopoly competition market structure and increasing returns to scale, relaxes the assumption of homogeneous enterprises, endogenizes the differences in corporate productivity into the monopoly competition model, and successfully endogenizes corporate productivity into the model and expands the research objects of trade theory to the enterprise level.
The basic logic of the new trade theory is that market share is approaching high-productivity enterprises, while those inefficient enterprises are forced to withdraw, thereby improving the productivity level of the industry. The heterogeneous enterprise theory represented by Melitz, Eaton, and Kurtum is the main representative of this school.
Nobel Prize in Economics Retracement
Nobel Prize in Economics aims to reward those who have made outstanding contributions in the field of economics. Although this award does not belong to the five awards mentioned in the Nobel Prize in 1895, it is generally believed that this award is the same as the five awards.
1969 Nobel Prize in Economics was awarded for the first time. The Nobel Prize in Economics usually announces the winners of the prize every October. As of October 2021, a total of 89 people have won the award (attachment).From the perspective of economics, the winners of the Nobel Prize mainly come from the United States and European countries.
