Karl Shell

Karl Shell (born May 10, 1938 in Paterson , New Jersey ) is an American economist . He has been editor of the Journal of Economic Theory since the magazine was founded in 1968 .

Career

Shell first studied mathematics at Princeton University . In 1960 he completed his studies with a Bachelor of Arts . He then went to Stanford University , where he studied with Nobel Prize winner Kenneth Arrow and in 1965 the academic degree of Ph.D. in economics.

Shell went to the Massachusetts Institute of Technology as a lecturer as early as 1964 . In 1968 he moved to the University of Pennsylvania , where he received the title of professor in 1970 . In 1986 he took over the chair at Cornell University, named after Robert Julius Thorne .

Teaching and Research

Based on the results of Arrows research and his dissertation , Shell emerged in the 1960s with the development of a macroeconomic theory for inventions that are determined as non-regular factors of production, and based on this, researched positive feedback effects , industrial organization and economic growth .

Another research area of ​​Shell was the overlapping generation model propagated by Paul Samuelson . Together with Yves Balasko , he provided insights into equilibria and welfare analyzes in such OG models.

Together with David Cass , with whom he also worked on research on OG models, Shell developed the theory of Sunspot equilibria in the late 1970s and early 1980s . H. the description of economic influences on decisions that only occur because market participants expect them to occur.

literature

• Mark Blaug (Ed.): Who's who in economics. 3rd edition, Elgar, Cheltenham [u. a.] 1999, ISBN 1-85898-886-1 , pp. 1020-1021

Web links

• Literature by and about Karl Shell in the catalog of the German National Library
• Internet presence at Cornell University
• List of important works by Shell at cepa.newschool.edu/
• Information about Shell at IDEAS