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Rosen, Sherwin (1938–2001)

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Abstract

Sherwin Rosen made fundamental contributions in equilibrium theory, human capital theory, income distribution theory and investment theory. One characteristic feature of Rosen’s work is the minimal use of heterogeneity of individuals. His work explains price disparities, differential earnings, and investment cycles. Underlying differences in characteristics produce price differences. Human capital theory is enriched by characterization of accumulation beyond schooling. Skewed income distributions arise from outcomes of tournaments, superstars from economies of scale or hierarchical complementarities. Rational investment cycles occur when the capital stock is large relative to investment, and when the breeding stock is large relative to the overall stock.

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  1. http://link.springer.com/referencework/10.1057/978-1-349-95121-5

    Robert Tamura

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  1. Robert Tamura
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Tamura, R. (2018). Rosen, Sherwin (1938–2001). In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2570

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