Oslo, Oct 7: Raghuram Rajan, former Governor of Reserve Bank of India (RBI), has been named one of the possible contenders for 2017 Nobel Prize in Economics for his “contributions illuminating the dimensions of decisions in corporate finance”, suggests Clarivate Analytics. The 2017 Nobel Prize in Economics would be announced on Monday, October 9, in Stockholm. The Wall Street Journal on Saturday stated that Raghuram Rajan is one of the six economists to have made their way to the list.
Clarivate’s website says that in last 15 years, 45 of the Clarivate’s selected researchers have been selected for the Nobel Prize in Economics. Nine of them received the prize in the same year they were listed in and 18 within two years of the distinction. Clarivate Analytics, involved in academic and scientific research, publishes the list of possible Nobel Prize contenders based on their research citations.
Raghuram Rajan’s term as RBI governor ended on September 4, 2016. Currently, Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at Booth School of Business. In 2016, he was named one of the ‘100 Most Influential People in the World’ by the Time magazine.
The other contenders for the 2017 Nobel Prize in Economics include Economists Colin Camerer and George Loewenstein “for pioneering research in behavioral economics and in neuroeconomics”; Robert Hall of Stanford University “for his analysis of worker productivity and studies of recessions and unemployment”; and Raghuram Rajan, Economist Michael Jensen of Harvard, Stewart Myers of MIT “for their contributions illuminating the dimensions of decisions in corporate finance”.
In 2016, the Nobel Prize in Economics was awarded to Oliver Hart of Harvard University and Bengt Holmström of the Massachusetts Institute of Technology for work on contracts. The 2015 Economics Nobel Prize went to Angus Deaton for research on poverty and inequality.
Formally called the Sveriges Riksbank Prize in Economic Sciences, the Nobel Prize in Economics has been awarded to 78 people so far. The prize was not one of the original prizes established by Alfred Nobel and was first awarded in 1901.