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John Bates Clark Medal

Definition

The John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge". According to The Chronicle of Higher Education, it "is widely regarded as one of the field's most prestigious awards...second only to the Nobel Memorial Prize in Economic Sciences." The award was made biennially until 2007, but from 2009 is now awarded every year because of the growth of the field. The award is named after the American economist John Bates Clark. Although the Clark medal is billed as a prize for American economists, it is sufficient that the candidates work in the US at the time of the award; US nationality is not necessary to be considered.

What is 'John Bates Clark Medal'

An award issued to an American economist under the age of 40 who has made important contributions to the field of economics. The Clark Medal is one of the most prestigious awards in the field, and many John Bates Clark Medal winners have gone on to win the Nobel prize in economics.


Unlike the Nobel prize, however, the medal is never awarded to more than one economist in the same year.

Explaining 'John Bates Clark Medal'

The John Bates Clark Medal is considered one of the two most prestigious awards that an economist can earn, along with the Nobel Memorial Prize in Economic Sciences. Many winners of the medal go on to also become Noble Memorial Prize winners: from 1947 to 2010, 12 of the 32 winners of the John Bates Clark Medal also won the Nobel Memorial Prize.


Previous winners include Paul Samuelson, Milton Friedman, James Tobin, Kenneth Arrow, Robert Solow, Joseph Stiglitz, Paul Krugman, Zvi Griliches, Gary Becker, Daniel McFadden, A. Michael Spence and James Heckman. John Bates Clark was an American neoclassical economist who passed away March 21, 1938.





Further Reading


In honor of Matthew Rabin: winner of the John Bates Clark medal
www.aeaweb.org [PDF]
… In Honor of Matthew Rabin: Winner of the John Bates Clark Medal 171 … 172 Journal of Economic Perspectives … follows Rabin's colleague George Akerlof's interest in drawing social phenomena into economics and anticipates the recent interest among many other economists in …

In honor of Paul Krugman: winner of the John Bates Clark medalIn honor of Paul Krugman: winner of the John Bates Clark medal
www.aeaweb.org [PDF]
… In Honor of Matthew Rabin: Winner of the John Bates Clark Medal 171 … 172 Journal of Economic Perspectives … follows Rabin's colleague George Akerlof's interest in drawing social phenomena into economics and anticipates the recent interest among many other economists in …

Does the John Bates Clark Medal boost subsequent productivity and citation success?Does the John Bates Clark Medal boost subsequent productivity and citation success?
papers.ssrn.com [PDF]
… In Honor of Matthew Rabin: Winner of the John Bates Clark Medal 171 … 172 Journal of Economic Perspectives … follows Rabin's colleague George Akerlof's interest in drawing social phenomena into economics and anticipates the recent interest among many other economists in …

In Honor of Sandy Grossman, Winner of the John Bates Clark MedalIn Honor of Sandy Grossman, Winner of the John Bates Clark Medal
www.aeaweb.org [PDF]
… In Honor of Matthew Rabin: Winner of the John Bates Clark Medal 171 … 172 Journal of Economic Perspectives … follows Rabin's colleague George Akerlof's interest in drawing social phenomena into economics and anticipates the recent interest among many other economists in …

In Honor of David Kreps, Winner of the John Bates Clark MedalIn Honor of David Kreps, Winner of the John Bates Clark Medal
www.aeaweb.org [PDF]
… In Honor of Matthew Rabin: Winner of the John Bates Clark Medal 171 … 172 Journal of Economic Perspectives … follows Rabin's colleague George Akerlof's interest in drawing social phenomena into economics and anticipates the recent interest among many other economists in …

In Honor of Lawrence H. Summers, Winner of the John Bates Clark MedalIn Honor of Lawrence H. Summers, Winner of the John Bates Clark Medal
www.aeaweb.org [PDF]
… In Honor of Matthew Rabin: Winner of the John Bates Clark Medal 171 … 172 Journal of Economic Perspectives … follows Rabin's colleague George Akerlof's interest in drawing social phenomena into economics and anticipates the recent interest among many other economists in …

The age of the applied economist: the transformation of economics since the 1970sThe age of the applied economist: the transformation of economics since the 1970s
read.dukeupress.edu [PDF]
… In Honor of Matthew Rabin: Winner of the John Bates Clark Medal 171 … 172 Journal of Economic Perspectives … follows Rabin's colleague George Akerlof's interest in drawing social phenomena into economics and anticipates the recent interest among many other economists in …

Steven D. Levitt: 2003 John Bates Clark MedalistSteven D. Levitt: 2003 John Bates Clark Medalist
www.aeaweb.org [PDF]
… In Honor of Matthew Rabin: Winner of the John Bates Clark Medal 171 … 172 Journal of Economic Perspectives … follows Rabin's colleague George Akerlof's interest in drawing social phenomena into economics and anticipates the recent interest among many other economists in …



FAQ


What is the article about?

The article is about John Bates Clark Medal.

Who was John Bates Clark?

John Bates Clark was an American economist who was one of the pioneers of marginalist revolution and opponent to the Institutionalist school of economics. He spent most of his career as professor at Columbia University.

Where did he grow up and go to college?

He grew up in Providence, Rhode Island and graduated from Amherst College, in Massachusetts, at the age of 25. From 1872 to 1875, he attended the University of Zurich and the University of Heidelberg where he studied under Karl Knies (a leader of German Historical School).

Where did he teach after college?

He taught as a professor at Carleton College from 1875 to 1881 before moving east to teach at Smith College. He subsequently taught at Amherst College.

How long did he spend teaching each place?

He spent two years teaching at Carleton College then moved east for four years teaching at Smith College then stayed there until retirement in 1925 when he returned to Columbia University where he had previously worked for twenty-five years before retiring due to illness in 1910.

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