Econ Nobel. Yippee! Lin is a WONDERFUL person. I have to admit that Bob Tollison actually predicted Lin winning as a possibility, on Saturday night, at Cowboy Ciao in Phoenix. Good one, Bob.
Congrats to Williamson, too. But on a personal level I am so happy for Lin.
Lagniappe: Read the idiots who are posting here. Several are proud that they have never heard of Ostrom or Williamson. Why in the world be proud of ignorance? Though, I guess we all want to do what we are best at. (I enjoyed reading the pain in this thread. Does that make me a bad person?) I did also enjoy the "Well, they had to give it to a woman." Geez. Lin is a fantastic scholar, and has builts a real intellectual powerhouse there at the Workshop at IU.
UPDATE: A person on the Econ thread posted this:
google scholar: citations for most cited work:
Arrow has 8300 citations Stiglitz gets 5958
Krugman gets 5005 phelps 1624
prescott 4129...... and ostrom: 7299
So you ("Who the fuck are these idiots? Never heard of them... ever. ") can argue about whether she should have got the Nobel prize but one thing that's unarguable is your ignorance.
(Here are Lin's cites, btw: Notice that the 7,299 refer to ONE BOOK, this one. What have YOU done today?)
(Full disclosure: I study transactions cost political economy, and have often used Lin's work in class. And, she is certainly a friend. I have been to her house, and had lots of dinners with her. So I may be biased in her favor. Still, the data above show that the bias is not entirely unjustified.)