Karl Shell

Karl Shell ( born May 10, 1938 in Paterson, New Jersey) is an American economist. He has been the founding of the journal in 1968 editor of the Journal of Economic Theory.

Career

Shell initially studied mathematics at Princeton University. In 1960 he completed his studies with a Bachelor of Arts. He then went to Stanford University, where he studied under Nobel laureate Kenneth Arrow and 1965 the degree of Ph.D. gained in economics.

In 1964 Shell was as a lecturer to the Massachusetts Institute of Technology. In 1968 he moved to the University of Pennsylvania, where he obtained the title of professor in 1970. In 1986 he was named after Robert Julius Thorne Professor at Cornell University.

Teaching and research

Based on research results Arrows and his dissertation Shell came in the 1960s with the development of a makroöknomischen theory for inventions that are determined to be non-regular factors of production, in appearance and explored based on that positive feedback effects, Industrial Organization and Economic Growth.

An additional area of ​​research shells was propagated by Paul Samuelson Overlapping Generations Model. Together with Yves Balasko he provided insights on equilibrium and welfare analysis in such OG models.

Together with David Cass, with whom he also collaborated in research on OG models, Shell developed in the late 1970s, early 1980s, the theory of Sunspotgleichgewichte, ie the description of economic influences on decisions that only occur because market participants expect their occurrence.