Nobel winners have Princeton ties

Princeton NJ -- Two winners of the Nobel Prize in economic sciences announced this month have Princeton connections.

Spence

Michael Spence, professor emeritus in the Graduate School of Business at Stanford University, earned his A.B. in philosophy, summa cum laude, from Princeton in 1966. Joseph Stiglitz, professor of economics, business and international affairs at Columbia University, was a professor of economics at Princeton from 1979 to 1988 and was recognized, in part, for work he did with Michael Rothschild, now dean of the Woodrow Wilson School of Public and International Affairs.

They will share the award with George Akerlof, a professor of economics at the University of California-Berkeley. The trio was honored for their work in advancing new ways to analyze markets. "The laureates' contributions form the core of modern information economics," according to the Nobel news release.

	Stiglitz

Spence served on the faculty at Harvard University for nearly 20 years. He also was dean of the faculty of arts and sciences from 1984 to 1990. He joined the Stanford faculty in 1990 and was dean of the Graduate School of Business until 1999.

Stiglitz also was a faculty member at Stanford. While on leave, he served as member and as chairman of President Bill Clinton's Council of Economic Advisers from 1993 to 1997 and as chief economist at the World Bank from 1997 to 1999. He joined the Columbia faculty this year. The Nobel news release cited "one of Stiglitz's classical papers, co-authored with Michael Rothschild." The 1976 article is titled "Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information."

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October 22, 2001 Vol. 91, No. 7 previous   archives   next Contents Research • What drives moral decision-making? • Princeton-designed satellite probing radiation 1 million miles from Earth People • Longtime philosophy professor was leading figure in field • Wilson to resign as Graduate School dean • Nobel winners have Princeton ties • Spotlight/Briefs Benefits • Benefits update Sections • By the numbers • Nassau Notes • Calendar of events The Bulletin is published weekly during the academic year, except during University breaks and exam weeks, by the Office of Communications, Princeton University, Princeton, NJ 08544. Permission is given to adapt, reprint or excerpt material from the Bulletin for use in other media. Deadlines. In general, the copy deadline for each issue is the Friday 10 days in advance of the Monday cover date. The deadline for the Bulletin that covers Nov. 5&endash;11 is Friday, Oct. 26. A complete publication schedule is available at deadlines or by calling (609) 258-3601. Subscriptions. The Bulletin is distributed free to faculty, staff and students. Others may subscribe to the Bulletin for $28 for the academic year (half price for current Princeton parents and people over 65). Send a check to Office of Communications, Stanhope Hall, Princeton University, Princeton, NJ 08544. Editor: Ruth Stevens Calendar editor: Carolyn Geller Staff writers: Jennifer Greenstein Altmann, Steven Schultz Contributing writers: Marilyn Marks Photographer: Denise Applewhite Design: Mahlon Lovett, Laurel Masten Cantor Web edition: Mahlon Lovett