Sherwin Rosen (September 29, 1938 – March 17, 2001) was an American

labor Labour or labor may refer to: * Childbirth, the delivery of a baby * Labour (human activity), or work ** Manual labour, physical work ** Wage labour, a socioeconomic relationship between a worker and an employer ** Organized labour and the labour ...

economist An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...

. He had ties with many American universities and academic institutions including the

University of Chicago The University of Chicago (UChicago, Chicago, or UChi) is a Private university, private research university in Chicago, Illinois, United States. Its main campus is in the Hyde Park, Chicago, Hyde Park neighborhood on Chicago's South Side, Chic ...

, the

University of Rochester The University of Rochester is a private university, private research university in Rochester, New York, United States. It was founded in 1850 and moved into its current campus, next to the Genesee River in 1930. With approximately 30,000 full ...

Stanford University Leland Stanford Junior University, commonly referred to as Stanford University, is a Private university, private research university in Stanford, California, United States. It was founded in 1885 by railroad magnate Leland Stanford (the eighth ...

and its

Hoover Institution The Hoover Institution (officially The Hoover Institution on War, Revolution, and Peace and formerly The Hoover Institute and Library on War, Revolution, and Peace) is an American public policy think tank which promotes personal and economic ...

. At the time of his death, Rosen was Edwin A. and Betty L. Bergman Distinguished Service Professor in Economics at the

and president of the

American Economic Association The American Economic Association (AEA) is a learned society in the field of economics, with approximately 23,000 members. It publishes several peer-reviewed journals, including the Journal of Economic Literature, American Economic Review, an ...

. Rosen received his B.S. in economics from

Purdue University Purdue University is a Public university#United States, public Land-grant university, land-grant research university in West Lafayette, Indiana, United States, and the flagship campus of the Purdue University system. The university was founded ...

in 1960, his M.A. and Ph.D. in economics from the

in 1962 and 1966 respectively. He was chair of the Economics department at the

and colleague to an impressive range of celebrated economists including friend Gary S. Becker. He was elected to the

National Academy of Sciences The National Academy of Sciences (NAS) is a United States nonprofit, NGO, non-governmental organization. NAS is part of the National Academies of Sciences, Engineering, and Medicine, along with the National Academy of Engineering (NAE) and the ...

in 1997. Rosen died at the Bernard Mitchell Hospital on March 17, 2001, at the age of 62.

Contributions to economics

As Palda wrote in 2013 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

* * * *

References

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. . Online versioni retrieved January 13, 2007. {{DEFAULTSORT:Rosen, Sherwin 1938 births 2001 deaths American people of German descent American labor economists 20th-century American economists 21st-century American economists Purdue University alumni Krannert School of Management alumni University of Chicago alumni University of Chicago faculty Members of the United States National Academy of Sciences Fellows of the Econometric Society Presidents of the American Economic Association Distinguished fellows of the American Economic Association Journal of Political Economy editors