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Econometric Fellows and Nobel Laureates in Economics

Author

Listed:
  • Ho Fai Chan

    (School of Economics and Finance, Queensland University of Technology)

  • Benno Torgler

    (Queensland University of Technology, CREMA (Switzerland), EBS Business School (Germany))

Abstract

An academic award is method by which peers offer recognition of intellectual efforts. In this paper we take a purely descriptive look at the relationship between becoming a Fellow of the Econometric Society and receiving the Nobel Prize in economics. We discover some interesting aspects: of all 69 Nobel Prize Laureates between 1969 and 2011, only 9 of them were not also Fellows. Moreover, the proportion of future Nobel winners among the Fellows has been quite high throughout time and a large share of researchers who became Fellows between the 1930s and 1950s became Nobel Laureates at a later stage. On average, researchers become Fellows relatively early in their career (14.9 years after their PhD) and those who were subsequently made Nobel Laureates become Fellows earlier than other researchers. Interestingly, Harvard and MIT have been the dominant PhD granting institutions to generate Fellows and Nobel Laureates in the past.

Suggested Citation

  • Ho Fai Chan & Benno Torgler, 2012. "Econometric Fellows and Nobel Laureates in Economics," Economics Bulletin, AccessEcon, vol. 32(4), pages 3365-3377.
    • Handle: RePEc:ebl:ecbull:eb-12-00804
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    References listed on IDEAS

    as
    1. Benno Torgler & Marco Piatti, 2011. "A Century of American Economic Review," Working Papers 2011.27, Fondazione Eni Enrico Mattei.
    2. Bruno S. Frey & Susanne Neckermann, 2008. "Awards in economics. Towards a new field of inquiry," IEW - Working Papers 401, Institute for Empirical Research in Economics - University of Zurich.
    3. Robert J. Gordon, 1997. "What is the Econometric Society? History, Organization, and Basic Procedures," Econometrica, Econometric Society, vol. 65(6), pages 1443-1452, November.
    4. Bruno S. Frey & Susanne Neckermann, 2008. "Academics Appreciate Awards. A New Aspect of Incentives in Research," CREMA Working Paper Series 2008-32, Center for Research in Economics, Management and the Arts (CREMA).
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Ho Fai Chan & Benno Torgler, 2020. "Gender differences in performance of top cited scientists by field and country," Scientometrics, Springer;Akadémiai Kiadó, vol. 125(3), pages 2421-2447, December.
    2. Franklin G. Mixon & Benno Torgler & Kamal P. Upadhyaya, 2022. "Committees or Markets? An Exploratory Analysis of Best Paper Awards in Economics," Economies, MDPI, vol. 10(5), pages 1-15, May.
    3. Bruno S. Frey & Anthony Gullo, 2020. "Sic transit gloria mundi: What remains of famous economists after their deaths?," Scientometrics, Springer;Akadémiai Kiadó, vol. 123(1), pages 283-298, April.
    4. Tolga Yuret, 2022. "Network analysis of econometric society fellows," Scientometrics, Springer;Akadémiai Kiadó, vol. 127(12), pages 7615-7631, December.
    5. Ho F. Chan & Franklin G. Mixon & Benno Torgler, 2018. "Relation of early career performance and recognition to the probability of winning the Nobel Prize in economics," Scientometrics, Springer;Akadémiai Kiadó, vol. 114(3), pages 1069-1086, March.
    6. Weilong Bi & Ho Fai Chan & Benno Torgler, 2019. "Self-esteem, self-symbolizing, and academic recognition: behavioral evidence from curricula vitae," Scientometrics, Springer;Akadémiai Kiadó, vol. 119(1), pages 495-525, April.
    7. Iván Aranzales & Ho Fai Chan & Benno Torgler, 2023. "Finally! How time lapse in Nobel Prize reception affects emotionality in the Nobel Prize banquet speeches," Scientometrics, Springer;Akadémiai Kiadó, vol. 128(7), pages 4089-4115, July.
    8. Ho Fai Chan & Bruno S. Frey & Jana Gallus & Markus Schaffner & Benno Torgler & Stephen Whyte, 2016. "External Influence as an Indicator of Scholarly Importance," CESifo Economic Studies, CESifo Group, vol. 62(1), pages 170-195.
    9. Elisabeth Maria Schlagberger & Lutz Bornmann & Johann Bauer, 2016. "At what institutions did Nobel laureates do their prize-winning work? An analysis of biographical information on Nobel laureates from 1994 to 2014," Scientometrics, Springer;Akadémiai Kiadó, vol. 109(2), pages 723-767, November.
    10. Richard S. J. Tol, 2022. "Rise of the Kniesians: the professor-student network of Nobel laureates in economics," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 29(4), pages 680-703, July.
    11. Ho Fai Chan & Franklin G. Mixon & Benno Torgler, 2019. "Fame in the sciences: a culturomics approach," Scientometrics, Springer;Akadémiai Kiadó, vol. 118(2), pages 605-615, February.
    12. Franklin G. Mixon & Benno Torgler & Kamal P. Upadhyaya, 2017. "Scholarly impact and the timing of major awards in economics," Scientometrics, Springer;Akadémiai Kiadó, vol. 112(3), pages 1837-1852, September.
    13. Ho Fai Chan & Franklin G. Mixon & Jayanta Sarkar & Benno Torgler, 2022. "Recognition and longevity: an examination of award timing and lifespan in Nobel laureates," Scientometrics, Springer;Akadémiai Kiadó, vol. 127(6), pages 3629-3659, June.
    14. Pandelis Mitsis, 2022. "The Nobel Prize time gap," Palgrave Communications, Palgrave Macmillan, vol. 9(1), pages 1-11, December.
    15. Florentina Xhelili-Krasniqi & Rahmije Mustafa-Topxhiu, 2024. "Academic Background of Nobel Laureates and Their Main Contribution to Economic Science," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 186-202.
    16. Chan, Ho Fai & Frey, Bruno S. & Gallus, Jana & Torgler, Benno, 2014. "Academic honors and performance," Labour Economics, Elsevier, vol. 31(C), pages 188-204.
    17. Dennis L. Weisman, 2021. "The Mathematical Revolution in Economics: Factor Flows in the Production of Academics," The American Economist, Sage Publications, vol. 66(2), pages 202-221, October.

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    More about this item

    Keywords

    Fellows of the Econometric Society; Nobel Laureate; economics of science; awards;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • I2 - Health, Education, and Welfare - - Education

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