Dale T. Mortensen quotes

Dale T. Mortensen was an American economist renowned for his pioneering work on labor economics and search theory. His research profoundly improved understanding of frictional unemployment and job market dynamics. He was awarded the Nobel Prize in Economics in recognition of his significant contributions to the field. Here are 6 of his quotes:

Economics is a strange science. Our subject deals with some of the most important as well as mundane issues that impinge on the human condition.

Dale T. Mortensen

As the future is never known with certainty, the evaluation of the prospective benefits requires the formation of expectations. An acceptable house, partner or job, then, is one that offers an expected stream of future benefit that has a value in excess of the option to continue to search for an even better alternative.

Dale T. Mortensen

The 1970s was the decade of developments in the new area of information economics. Search theory, which emphasized the need to gather information, was joined by models that featured asymmetric information, the case in which information differed across individual agents.

Dale T. Mortensen

I was a good student with mathematical ability and interests. As such, I took the usual college preparatory program in high school for one looking to become an engineer: all the available courses in mathematics and science.

Dale T. Mortensen

My co-winners, Peter Diamond and Christopher Pissarides, and I wish to thank the Royal Swedish Academy of Sciences and the Nobel Foundation for this very great honor. We each feel privileged and humbled to be named the winners of the 2010 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

Dale T. Mortensen