Tepper Alum Wns Nobel Prize
Dale Mortensen (right), who earned his Ph.D. in 1967 from the Tepper School of Business at Carnegie Mellon, formerly known as the Graduate School of Industrial Administration, has been awarded the prestigious Nobel Prize in Economic Sciences. The announcement was made this morning in Stockholm.
Mortensen shares the 2010 Nobel Prize with two fellow economists, Peter Diamond of the Massachusetts Institute of Technology, and Christopher Pissarides of the London School of Economics. The trio was awarded the prize for their research in creating labor models that explain the effects of regulation and economic policy upon unemployment, job vacancies and wages. Mortensen is the Ida C. Cook Professor of Economics and director of the Mathematical Methods in the Social Sciences Program at Northwestern University in Evanston, Ill. He is currently a visiting professor at the University of Aarhus in Denmark.
Mortensen joins a distinguished list of faculty and Ph.D. alumni of the Tepper School of Business who have been awarded the Nobel Prize in Economic Sciences. Recipients are:
- Herbert A. Simon (1978)
- Franco Modigliani (1985)
- Merton H. Miller (1990)
- Robert E. Lucas, Jr. (1995)
- Finn E. Kydland (2004) (Henderson Award 1973)
- Edward C. Prescott (2004) (Henderson Award 1967)
- Oliver Williamson (2009) (Henderson Award 1962)
- Dale Mortensen (2010) (Henderson Award 1965)
While studying at Carnegie Mellon, Mortensen received the 1965 Alexander Henderson Award winner, an honor that is given by the economics faculty in recognition of “excellence in economic theory.” He is the fourth Alexander Henderson Award winner to also win a Nobel Prize.
Mortensen is the 18th person affiliated with Carnegie Mellon to win a Nobel Prize.