Freakonomics Radio 224. How To Win A Nobel Prize
Oct 15, 2015
Explore the origins and controversies surrounding the Nobel Prize in Economics, including the intricate nomination and selection process for candidates. Delve into the impact of lobbying on candidate selection and consumer behavior in pharmaceutical brand preferences.
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Nomination and Life Status Requirements
- Nominees must be alive and officially nominated to be considered for the prize.
- This rule excluded Amos Tversky and posthumous candidates like Mahatma Gandhi.
Prize Selection Process
- The committee starts with a list of about a dozen prize ideas each year and narrows it down.
- They vote regularly in spring to decide which ideas to keep or discard before final selection.
Nobel Prize Themes and Trends
- Prize choices often align with Scandinavian values: measured, humanistic, and technocratic.
- Some recent prizes have addressed economic issues related to the Great Recession.