Edward J. Green is an American economist best known for his contributions to the theory of dynamic contracts. Green received his Ph.D. from Carnegie Mellon University in 1977. His dissertation won him the Alexander Henderson Award for excellence in economics. He has previously taught at Princeton University and worked at the Federal Reserve Bank of Minneapolis, and the Federal Reserve Bank of Chicago, and is currently Professor of Economics at Pennsylvania State University.
Green has written several influential articles.
In a 1984 article written with Robert Porter published in Econometrica, Green and Porter showed that price wars can periodically occur even among firms that are colluding in an optimal fashion.
In a 1987 contribution ("Lending and the Smoothing of Uninsurable Income"), he studied the optimal consumption allocation that a planner would choose if he could not observe households' income, and that income was uncertain to households. The planner faces a trade-off between insuring households and enticing the households to reveal if they have had high or low income. Green showed that the allocation was related to Milton Friedman's permanent income theory. This contribution is one of the earliest in the economic field of dynamic contracts.
Ed Green is known for his very careful and logically tight reasoning.
An interview with Ed Green: http://www.minneapolisfed.org/pubs/region/05-12/green.cfm
Ed Green's web page: http://econ.la.psu.edu/people/biographies/green_bio.shtml
| Persondata | |
|---|---|
| Name | Green, Edward J. |
| Alternative names | |
| Short description | |
| Date of birth | |
| Place of birth | |
| Date of death | |
| Place of death | |
Famous quotes containing the words edward and/or green:
““Why does your brand so drop with blood,
Edward, Edward?”
—Unknown. Edward (l. 1–2)
“He hangs in shades the orange bright,
Like golden lamps in a green night,
And does in the pomegranates close
Jewels more rich than Ormus shows;
He makes the figs our mouths to meet,
And throws the melons at our feet;
But apples plants of such a price
No tree could ever bear them twice.”
—Andrew Marvell (1621–1678)