Microeconomics Property rights Law and economics[1]
School or tradition
New Institutional Economics Chicago School Neoclassical economics
Doctoral students
William F. Sharpe,[2] David R. Henderson,[3] Steven N. S. Cheung,[4] Jerry Jordan[5]
Influences
Adam Smith,[6] Ludwig von Mises, Friedrich Hayek
Awards
Distinguished Fellow of the American Economic Association (1996)[7]
Armen Albert Alchian (/ˈɑːltʃiən/; April 12, 1914 – February 19, 2013) was an American economist. He spent almost his entire career at the University of California, Los Angeles (UCLA). A major microeconomic theorist, he is known as one of the founders of new institutional economics and widely acknowledged for his work on property rights.
^Marcus, Morton (May 18, 2014). "What 'let us assume' wording leaves out". South Bend Tribune. Archived from the original on 31 August 2021. His work, along with that of others including, notably, Armen Alchian of UCLA, became the backbone for the merged study of law and economics.
^Wolpert, Stuart (November 5, 1998). "Nobel Laureate William F. Sharpe Awarded UCLA Medal at Ceremony Honoring UCLA Economists". newsroom.ucla.edu. UCLA Newsroom. Archived from the original on 2017-07-25. Sharpe, who won the Nobel Prize in Economic Sciences in 1990, was a student of Alchian at UCLA and considered him to be a valuable role model as well as his thesis adviser.
^Henderson, David R.; Hooper, Charles L. (2006). Making Great Decisions in Business and Life. Chicago: Park Press. p. 16. ISBN 978-0976854104. I (DRH) ... learned this as a Ph.D. student of noted UCLA economist Armen Alchian.
^Cheung, Steven N.S. (February 21, 2013). "Eulogy on Armen Alchian by Steven N.S. Cheung". Hong Kong Economic Journal (in Chinese). Translated by Fred K. Luk; Kam-Ming Wan; Chi-Wa Yuen; Michael T. Cheung. (Archived English version) "My doctoral dissertation, The Theory of Share Tenancy, was written under the co-supervision of Armen Alchian and Jack Hirshleifer."
^"Universal Economics". libertyfund.org. Liberty Fund. Archived from the original on 11 January 2020. Jerry L. Jordan wrote his doctoral dissertation under the direction of Armen Alchian.
^De Vany, Arthur (July 1996). "Information, Chance, and Evolution: Alchian and the Economics of Self-Organization". Economic Inquiry. 34 (3): 427. doi:10.1111/j.1465-7295.1996.tb01387.x. Smith and Hayek described it; Alchian gave the evolutionary proof.
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Armen Albert Alchian (/ˈɑːltʃiən/; April 12, 1914 – February 19, 2013) was an American economist. He spent almost his entire career at the University of...
2011 Yerevan State University The following are the recipients of the ArmenAlchian award for the best paper presented at the annual meetings: Davit Gomtsyan...
colleagues: ArmenAlchian, Ronald Coase, Aaron Director, and George Stigler. Demsetz coined the term "nirvana fallacy" in 1969. The 1972 Demsetz and Armen Alchian...
markets: in the long-run firms need to earn normal profits or they die (as ArmenAlchian once said, "This is the criterion by which the economic system selects...
Memoriam: ArmenAlchian (1914 – 2013)". Property and Environment Research Center. Archived from the original on 14 September 2021. Alchian is best known...
psychiatrist, best known for his pioneering research on bipolar disorder ArmenAlchian, economist James P. Bagian, astronaut Harry Daghlian, physicist with...
cardinality and measurability was not to be solved until the works of ArmenAlchian, William Baumol, and John Chipman. The title of Baumol's paper, "The...
Major scholars associated with the subject include Masahiko Aoki, ArmenAlchian, Harold Demsetz, Steven N. S. Cheung, Avner Greif, Yoram Barzel, Claude...
pioneering research on temperament and bipolar disorder (manic depression) ArmenAlchian, economist, one of the major economists of the 20th century Artem Alikhanian...
United States and in the Black Hills of South Dakota. In 1954, economist ArmenAlchian used sudden increases in the stock price of Lithium Corporation to deduce...
Major scholars associated with the subject include Masahiko Aoki, ArmenAlchian, Harold Demsetz, Steven N. S. Cheung, Avner Greif, Yoram Barzel, Claude...
J. M. Keynes, 1923. A Tract on Monetary Reform, p. 65. Macmillan. Armen, Alchian, 1959. "Costs and Outputs," in M. Abramovitz, ed., The Allocation of...
efficiency, there is organisational slack (Leibenstein's X-inefficiency). ArmenAlchian and Harold Demsetz's analysis of team production extends and clarifies...
Herbert A. Simon, Paul Samuelson, and Robert Solow. UCLA economist ArmenAlchian remembers the excitement of reading Hayek's essay and stopping fellow...
1913 – Keiko Fukuda, Japanese-American martial artist (d. 2013) 1914 – ArmenAlchian, American economist and academic (d. 2013) 1916 – Beverly Cleary, American...
political scientist and journalist Cicely Wedgwood – British historian ArmenAlchian Martin Anderson (economist) John A. Baden Stephen J. Blackwood Danny...
Maynard Keynes discussed it at length in his Treatise on Probability; ArmenAlchian relied on it for discussing market behavior in his seminal paper Uncertainty...
Wheelwright Erich Zimmermann New institutional economists Daron Acemoglu ArmenAlchian Masahiko Aoki Steven N. S. Cheung Ronald Coase Harold Demsetz Avner...
development, education, pensions, regulation, taxation, and transport. ArmenAlchian Samuel Brittan James M. Buchanan Ronald Coase Terence W. Hutchison David...
on the 1950 paper "Uncertainty, Evolution, and Economic Theory" by ArmenAlchian. The paper sets out a justification for supply analysis separate from...
"Production, Information Costs, and Economic Organization" (1972), by ArmenAlchian and Harold Demsetz. "Some International Evidence on Output-Inflation...
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