Previous Winners of the H.C. Recktenwald Price
Winner of 2004:
Prof. Oliver E. Williamson, Ph. D.
Oliver E. Williamson, born on 27 September 1932 in Superior (Wisconsin), received his Ph.D. from Carnegie Mellon University. He was a professor at the University of Pennsylvania and Yale University. Since 1988 Williamson has held professorships at the University of California, Berkeley. His main research was done in the field of transaction cost theory and modern institutional economics. He contributed considerably to a deeper understanding of the functioning of private companies and public organizations. His book, “The Economic Institutions of Capitalism: Firms, Markets, Relational Contracting“, is one of the most frequently cited works in social science research.
Williamson received numerous honorary doctorates and prizes. In 2009 he was awarded the Nobel Memorial Prize in Economic Sciences.
The H.C. Recktenwald Foundation honors Mr. Williamson's excellent contributions to transaction cost theory and modern institutional economics. His findings not only influence decisively the economic theory but also the political and social sciences.
Winner of 2002:
Prof. Paul M. Romer, Ph. D.
Paul M. Romer was born on 7 November 1955 in Denver (Colorado). After earning a Ph.D. in economics from the University of Chicago, he taught at the University of Rochester, the University of Chicago, the University of California, Berkeley, and the University of Stanford. Currently he is professor of economics at Stern School of Business at the New York University. Romer was the lead developer of "new growth theory". This body of work emphasizes the lasting effect that institutions and policies could have on the trend rate of economic growth. It moved scientific discovery, technological change, innovation, and productivity growth back to the center of macroeconomic analysis.
In 1997, Time Magazine named Romer him one of America's 25 most influential people. He is a fellow of the American Academy of Arts and Sciences, the Econometric Society, and a research associate of the National Bureau of Economic Research.
The H.C. Recktenwald Foundation honors Mr. Romer's outstanding contributions to the Theory of Endogenous Growth.
Winner of 2000:
Prof. Paul Krugman, Ph. D.
Paul Krugman, born on 28 February 1953 in Long Island (New York), earned his Ph.D. from the Massachusetts Institute of Technology (MIT). He has taught at Yale University, Stanford University, and the MIT. At MIT he became Ford International Professor of Economics. His main research has contributed considerably to the micro- and macroeconomics in the field of international relationships. In the microeconomic area, Krugman was a cofounder of the “New Trade Theory”. In microeconomics, he made substantial contribution to the theory of currency crisis and exchange rate fluctuations.
From 1982 to 1983, Krugman spent a year working as a member of the Council of Economic Advisers in Washington. In 2008, he won the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography.
The H.C. Recktenwald Foundation honors Mr. Krugman's outstanding research in the field of micro- and macroeconomics of international relationships, especially the integration of market power and imperfect competition in the analysis of international trade as well as his contributions to the theory of currency crises and exchange rate fluctuations.
Winner of 1997:
Prof. Joseph E. Stiglitz, Ph. D.
Joseph E. Stiglitz was born on 9 February 1943 in Gary (Indiana). After earning a Ph.D. from the Massachusetts Institute of Technology (MIT), he taught at the MIT, Yale University, Oxford University, Princeton University, and Stanford University. Stiglitz is a former senior vice president and chief economist of the World Bank and most recently Chairman of the Council of Economic Advisers. His main research was done in the field of information economics with the concept of incomplete and costly information and the application to market results.
In 2001, Stiglitz was awarded the Nobel Memorial Prize in Economic Sciences for his analyses of markets with asymmetric information, and he was a lead author of the 1995 Report of the Intergovernmental Panel on Climate Change, which shared the 2007 Nobel Peace Prize.
The H.C. Recktenwald Foundation honors Mr. Stiglitz for his excellent contributions in the field of information economics. A crucial aspect of his work deals with the application of theoretical knowledge in the economic and monetary practice with worldwide validity.
Winner of 1995:
Prof. Dr. Edmond C. Malinvaud
Edmond C. Malinvaud, born on 25 April 1923 in Limoges (France), is a graduate of the “Ecole Polytechnique” in Paris where he studied economics, mathematics and statistics. He became director of the ENSAE, director of the forecast department of French Treasury, director of the INSEE and professor at the “Collège de France”. Malinvaud taught at University of California, Berkeley, and University of Paris I. His main research was done in the field of mathematical and applied micro- and macroeconomics, econometrics and statistics in and their practical and political implementation. Edmond Malinvaud passed away March 7, 2015, in Paris.
Malinvaud received numerous honorary doctorates and several prices.
The H.C. Recktenwald Foundation honors Mr. Malinvaud’s outstanding research in the field of applied micro- and macroeconomics and econometrics for example the synthesis of Keynesianism and neoclassic theory, the explanation of unemployment with rigid prices and the development of the disequilibrium analysis.