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 la ...

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, U of C, or UChi) is a private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park neighborhood. The University of Chicago is consistently ranked among the b ...

, the

University of Rochester The University of Rochester (U of R, UR, or U of Rochester) is a private research university in Rochester, New York. The university grants undergraduate and graduate degrees, including doctoral and professional degrees. The University of ...

Stanford University Stanford University, officially Leland Stanford Junior University, is a private research university in Stanford, California. The campus occupies , among the largest in the United States, and enrolls over 17,000 students. Stanford is conside ...

and its

Hoover Institution The Hoover Institution (officially The Hoover Institution on War, Revolution, and Peace; abbreviated as Hoover) is an American public policy think tank and research institution that promotes personal and economic liberty, free enterprise, a ...

. 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. It publishes several peer-reviewed journals acknowledged in business and academia. There are some 23,000 members. History and Constitution The AEA was esta ...

. Rosen received his B.S. in economics from

Purdue University Purdue University is a public land-grant research university in West Lafayette, Indiana, and the flagship campus of the Purdue University system. The university was founded in 1869 after Lafayette businessman John Purdue donated land and ...

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 Gary Stanley Becker (; December 2, 1930 – May 3, 2014) was an American economist who received the 1992 Nobel Memorial Prize in Economic Sciences. He was a professor of economics and sociology at the University of Chicago, and was a leader of ...

. He was elected to the

National Academy of Sciences The National Academy of Sciences (NAS) is a United States nonprofit, 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 Nat ...

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 regression In economics, hedonic regression, also sometimes called hedonic demand theory, is a revealed preference method for estimating demand or value. It decomposes the item being researched into its constituent characteristics, and obtains estimates o ...

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 Labor economists 20th-century American economists 21st-century American economists Purdue University 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