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Outsource magazine: thought-leadership and outsourcing strategy | June 25, 2017

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Nobel Prize

Herbert Simon: “Economic Man” and “Bounded Rationality”

May 5, 2017 | 2

Herbert Simon explored the intersection of philosophy, science, politics, economics and a range of other fields and called into question the traditional idea that “economic man” acts rationally. Simon, who was a long-time professor at Carnegie Mellon University, received the … Read More

Hart, Holmstrom: Contract theory and incomplete contracts

January 6, 2017 |

Professors Bengt Holmström (MIT) and Oliver Hart (Harvard) received the 2016 Nobel Prize in economic science in October for their work in the realm of contract theory and, most intriguing, the nature of contracts as being essentially incomplete.

The Nobel … Read More

Akerlof and Shiller: the free market giveth, and it taketh away

January 26, 2016 |

The “invisible hand” of the market could be giving you a sharp slap more often than not, according to the Nobel laureates George A. Akerlof and Robert J. Shiller.

If you sometimes wonder whether markets always act in your best … Read More

Jean Tirole: The science of taming powerful firms

December 22, 2014 | 1

Jean Tirole, the French professor of economics who recently received the Nobel Prize, is one of the most influential modern economists for his extensive theories and rigorous mathematic analysis of strategic behaviour and information economics in what is known as … Read More

Paul Krugman: pushing for some economic rationality

January 31, 2013 |

I’ve talked a lot about “economic rationality” in outsourcing and business relationships in a globalised marketplace. This blog is dedicated to Paul Krugman, an economist and Nobel laureate, who fights for rationality mostly against great odds from within and without … Read More

Kenneth Arrow: trust’s central role

November 7, 2012 |

We know that trust, ethical behaviour and collaboration go hand-in-hand in our personal and social relationships. But how widespread are those things in our business and outsourcing relationships? Obviously they should be!

This is why I have chosen to feature … Read More

Douglass North: institutions and success

October 11, 2012 | 1

This month’s Academic of Outsourcing tribute goes to Douglass C. North for his work on “new institutional economics.” North – a professor, economist, philosopher, and economic historian – was the co-recipient (with Robert Fogel) of the 1993 Nobel Prize in … Read More

Elinor Ostrom: getting involved in your own governance

August 2, 2012 |

This month’s column pays a tribute to Elinor Ostrom, who shared the Nobel Prize award in economic science in 2009 with Oliver Williamson. Ostrom, who died at age 78 on June 12, was cited by the Nobel Committee for “her … Read More

Joseph E. Stiglitz: making globalisation work

November 3, 2011 |

For the most part this series has examined the big thinkers in economics who have influenced the development of modern outsourcing. This week I want to focus on Joseph E. Stiglitz, whose work has the power to influence how companies … Read More

Robert Solow: innovation, technology – and math! – make all the difference

June 2, 2011 | 1

Common sense tells us that businesses grow when they innovate. And that those with the most amount of innovation benefit the most.

It was Robert Solow, the 1987 Nobel laureate in economic sciences, who made the revolutionary connection between innovation … Read More

John Nash, Robert Axelrod, Game Theory and the art of playing nice

May 16, 2011 |

Next up in my series of columns about the great academic thought leaders who were seminal in the development and success of modern outsourcing are two one of my favorite game theorists, the mathematician and Nobel laureate John F. Nash, … Read More

Ronald Coase: Business is a math problem

April 8, 2011 |

This month’s column focuses on Big Thinker Ronald Coase. Coase, a giant of modern economic science and 1991 Nobel laureate helps us understand a key fundamental of business: that business (and outsourcing decisions) are a math problem.

While outsourcing has … Read More

All in the Game

April 6, 2011 |

This article originally appeared in Outsource Magazine Issue #23 Spring 2011

Leading academics charted a path that challenges the conventional definition of winning. Smart companies are applying these concepts, showing that win-win thinking is not just something nice to say: … Read More