Wednesday, February 9, 2011

The Top 20 AER Articles In A Century

The American Economic Review new issue publishes a paper by Arrow, Bernheim, Feldstein, McFadden, Poterba, and Solow, presenting the “Top 20” articles that appeared in the review during its first hundred years. The authors “decided against trying to define formally the criteria for inclusion”. It would have been a daunting task indeed.

Here are the first selected papers, by alphabetical order:

Alchian and Demsetz (1972): “Production, Information Costs, and Economic Organization” (I love that one …)

Arrow (1963): “Uncertainty and the Welfare Economics of Medical Care”.

Cobb and Douglas (1928): “A Theory of Production”.

And then:

Hayek: “The Use of Knowledge in Society”.

Modigliani and Miller: “The Cost of Capital, Corporation Finance and the Theory of Investment”.

Mundell: “A Theory of Optimum Currency Areas”.

Read the whole paper here .

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