World Library  
Flag as Inappropriate
Email this Article

Sherwin Rosen

Article Id: WHEBN0003131111
Reproduction Date:

Title: Sherwin Rosen  
Author: World Heritage Encyclopedia
Language: English
Subject: Xavier Gabaix, Edward Lazear, Peter Boxall, Economics of the arts and literature, Jesse Shapiro
Publisher: World Heritage Encyclopedia

Sherwin Rosen

Sherwin Rosen
Born (1938-09-29)September 29, 1938
Died March 17, 2001(2001-03-17) (aged 62)
South Side, Chicago
Nationality United States
Institution University of Chicago
Field Labor economics
School or tradition
Chicago School of Economics
Alma mater University of Chicago
Purdue University
Influences H. Gregg Lewis
Influenced Xavier Gabaix
Luis Garicano
Thomas Hubbard
Mark Harrison
David O. Meltzer
Information at IDEAS / RePEc

Sherwin Rosen (September 29, 1938 – March 17, 2001) was an American labor economist. He had ties with many American universities and academic institutions including the University of Chicago, the University of Rochester, Stanford University and its Hoover Institution. At the time of his death, Rosen was Edwin A. and Betty L. Bergman Distinguished Service Professor in Economics at the University of Chicago and president of the American Economic Association.

Rosen received his B.S. in economics from Purdue University in 1960, his M.A. and Ph.D. in economics from the University of Chicago in 1962 and 1966 respectively.

He was chair of the Economics department at the University of Chicago and colleague to an impressive range of celebrated economists including friend Gary S. Becker. He was elected to the National Academy of Sciences in 1997.

Rosen died at the Bernard Mitchell Hospital on March 17, 2001 at the age of 62.

Contributions to economics

As Palda (2013, page 132) writes "In his 1974 and 1986 articles Sherwin Rosen asked what would happen if you were limited in how you could move about through characteristics space. Rosen pointed out that sometimes when buying a product with several underlying characteristics you could not just go out and span characteristics space by buying a bit of another product with the same characteristics but in different proportions. The reason was that sometimes when you buy something, you are selling something at the same time and are able to sell uniquely to one purchaser. Recombining goods to balance characteristics to suit your tastes is not possible. Rosen called such exchanges tied-sales."[1] Rosen showed that tied sales could lead to the segregation of people by their types. He argued that the worst effects of segregation could be palliated by a market that resolved supply and demand of complicated tied sales situations through a monetary payment he called an “equalizing difference”. This work led to many unexpected insights on the effects of government policy. For example, the minimum wage might not decrease employment, as economists commonly believed, but it might induce employers to provide less on-the-job training to employees. In addition to implications for policy, Rosen's analysis of choice in characteristics space with tied sales specified the conditions under which the parameters of demand and supply function parameters for the underlying characteristics of goods could be deduced from so-called hedonic regressions.

Selected works


  1. ^ Palda, Filip (2013). The Apprentice Economist: Seven Steps to Mastery. Cooper-Wolfling Press.

External links

  • Obituary posted at the University of Chicago website.
  • Lazear, Edward P. (2003). "Sherwin Rosen," Biographical Memoirs, Vol. 83 (National Academies Press, 2003), pp. 176–195. ISBN 0-309-08699-X. Online versioni retrieved January 13, 2007.
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.

Copyright © World Library Foundation. All rights reserved. eBooks from World Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.