Recognizing Excellence: Nobel Laureates

1960s

Jan Tinbergen

Year Awarded: 1969 (jointly with Ragnar Frisch)

INFORMS Publications:

• Possibilities for Application of Operational Research to Problems of Development
  Jan Tinbergen
  Management Science 10(2):193-197, 1964

1970s

Paul A. Samuelson (Biographical Profile)

Year Awarded: 1970

INFORMS Publications:

• The Capital Asset Pricing Model with Diverse Holding Periods
  Haim Levy, Paul A. Samuelson
  Management Science 38(11):1529-1542, 1992

---

Kenneth J. Arrow (Biographical Profile)

Year Awarded: 1972 (jointly with John Hicks)

INFORMS Publications:

• Gradient Methods for Constrained Maxima
  Kenneth Arrow, Leonid Hurwicz
  Operations Research 5(2):258-265, 1957

• Decision Theory and Operations Research
  Kenneth J. Arrow
  Operations Research 5(6):765-774, 1957

• Control in Large Organizations
  Kenneth J. Arrow
  Management Science 10(3):397-408, 1964

• The Genesis of “Optimal Inventory Policy”
  Kenneth J. Arrow
  Operations Research 50(1):1-2, 2002

---

Leonid V. Kantorovich (Biographical Profile)

Year Awarded: 1975 (jointly with Tjalling C. Koopmans)

INFORMS Publications:

• On the Translocation of Masses
  L. Kantorovitch
  Management Science 5(1):1-4, 1958

• Mathematical Methods of Organizing and Planning Production
  L. V. Kantorovich
  Management Science 6(4):366-422, 1960

---

Tjalling C. Koopmans (Biographical Profile)

Year Awarded: 1975 (jointly with Leonid V. Kantorovich)

INFORMS Publications:

• A Note About Kantorovich's Paper, “Mathematical Methods of Organizing and Planning Production”
  Tjalling C. Koopmans
  Management Science 6(4):363-365, 1960

• On the Evaluation of Kantorovich's Work of 1939
  Tjalling C. Koopmans
  Management Science 8(3):264-265, 1962

---

Herbert A. Simon (Biographical Profile)

Year Awarded: 1978

INFORMS Publications:

• The Control of Inventories and Production Rates—A Survey
  Herbert A. Simon, Charles C. Holt
  Journal of the Operations Research Society of America 2(3):289-301, 1954

• The Impact of Certain Communication Nets Upon Organization and Performance in Task-Oriented Groups
  Harold Guetzkow, Herbert A. Simon
  Management Science 1(3-4):233-250, 1955

• A Linear Decision Rule for Production and Employment Scheduling
  Charles C. Holt, Franco Modigliani, Herbert A. Simon
  Management Science 2(1):1-30, 1955

• Heuristic Problem Solving: The Next Advance in Operations Research
  Herbert A. Simon, Allen Newell
  Operations Research 6(1):1-10, 1958

• Letter to the Editor—Reply: Heuristic Problem Solving
  Herbert A. Simon, Allen Newell
  Operations Research 6(3):449-450, 1958

• Technology and Environment
  Herbert A. Simon
  Management Science 19(10):1110-1121, 1973

• Two Heads Are Better than One: The Collaboration between AI and OR
  Herbert A. Simon
  Interfaces 17(4):8-15, 1987

• Decision Making and Problem Solving
  Herbert A. Simon, George B. Dantzig, Robin Hogarth, Charles R. Plott, Howard Raiffa, Thomas C. Schelling, Kenneth A. Shepsle, Richard Thaler, Amos Tversky, Sidney Winter
  Interfaces 17(5):11-31, 1987

• Prediction and Prescription in Systems Modeling
  Herbert A. Simon
  Operations Research 38(1):7-14, 1990

• Bounded Rationality and Organizational Learning
  Herbert A. Simon
  Organization Science 2(1):125-134, 1991

1980s

Franco Modigliani

Year Awarded: 1985

INFORMS Publications:

• A Linear Decision Rule for Production and Employment Scheduling
  Charles C. Holt, Franco Modigliani, Herbert A. Simon
  Management Science 2(1):1-30, 1955

• Derivation of a Linear Decision Rule for Production and Employment
  Charles C. Holt, Franco Modigliani, John F. Mult
  Management Science 2(2):159-177, 1956

---

Maurice F. C. Allais (Biographical Profile)

Year Awarded: 1988

INFORMS Publications:

• Method of Appraising Economic Prospects of Mining Exploration over Large Territories: Algerian Sahara Case Study
  M. Allais
  Management Science 3(4):285-347, 1957

1990s

Harry M. Markowitz (Biographical Profile)

Year Awarded: 1990 (jointly with Merton H. Miller and William F. Sharpe)

INFORMS Publications:

• The Elimination Form of the Inverse and its Application to Linear Programming
  Harry M. Markowitz
  Management Science 3(3):255-269, 1957

• Simulating with SIMSCRIPT
  Harry M. Markowitz
  Management Science 12(10):B396-B405, 1966

• The Distribution System Simulator
  Michael M. Connors, Claude Coray, Carol J. Cuccaro, William K. Green, David W. Low, Harry M. Markowitz
  Management Science 18(8):B425-B453, 1972

• Efficient Portfolios, Sparse Matrices, and Entities: A Retrospective
  Harry M. Markowitz
  Operations Research 50(1):154-160, 2002

• Portfolio Optimization with Factors, Scenarios, and Realistic Short Positions
  Bruce I. Jacobs, Kenneth N. Levy, Harry M. Markowitz
  Operations Research 53(4):586-599, 2005

• Can Noise Create the Size and Value Effects?
  Robert D. Arnott, Jason C. Hsu, Jun Liu, Harry Markowitz
  Management Science 61(11):2569–2579, 2015

• Data Mining Corrections Testing in Chinese Stocks
  John B. Guerard, Jr., Robert A. Gillam, Harry Markowitz, Ganlin Xu, Shijie Deng, Ziwei (Elaine) Wang
  Interfaces 48(2):108-120, 2018

---

Merton H. Miller

Year Awarded: 1990 (jointly with Harry M. Markowitz and William F. Sharpe)

INFORMS Publications:

• A Model for the Optimal Programming of Railway Freight Train Movements
  A. Charnes, M. H. Miller
  Management Science 3(1):74-92, 1956

---

William F. Sharpe

Year Awarded: 1990 (jointly with Harry M. Markowitz and Merton H. Miller)

INFORMS Publications:

• A Simplified Model for Portfolio Analysis
  William F. Sharpe
  Management Science 9(2):277-293, 1963

• Communication to the Editor
  William F. Sharpe
  Management Science 9(2):498, 1963

• A Linear Programming Algorithm for Mutual Fund Portfolio Selection
  William F. Sharpe
  Management Science 13(7):499-510, 1967

• Mean-Absolute-Deviation Characteristic Lines for Securities and Portfolios
  William F. Sharpe
  Management Science 18(2):B1-B13, 1971

---

John C. Harsanyi

Year Awarded: 1994 (jointly with John F. Nash Jr. and Reinhard Selten)

INFORMS Publications:

• Rationality Postulates for Bargaining Solutions in Cooperative and in Non-Cooperative Games
  John C. Harsanyi
  Management Science 9(1):141-153, 1962

• Games with Incomplete Information Played by “Bayesian” Players, Part I. The Basic Model
  John C. Harsanyi
  Management Science 14(3):159-182, 1967

• Games with Incomplete Information Played by “Bayesian” Players, Part II. Bayesian Equilibrium Points
  John C. Harsanyi
  Management Science 14(5):320-334, 1968

• Games with Incomplete Information Played by “Bayesian” Players, Part III. The Basic Probability Distribution of the Game
  John C. Harsanyi
  Management Science 14(7):486-502, 1968

• A Generalized Nash Solution for Two-Person Bargaining Games with Incomplete Information
  John C. Harsanyi, Reinhard Selten
  Management Science 18(5 part 2):80-106, 1972

• An Equilibrium-Point Interpretation of Stable Sets and a Proposed Alternative Definition
  John C. Harsanyi
  Management Science 20(11):1472-1495, 1974

• Comment—Subjective Probability and the Theory of Games: Comments on Kadane and Larkey's Paper
  John C. Harsanyi
  Management Science 28(2):120-124, 1982

• Rejoinder to Professors Kadane and Larkey
  John C. Harsanyi
  Management Science 28(2):124-125, 1982

• Games with Incomplete Information Played by “Bayesian” Players, Part I. The Basic Model (reprint)
  John C. Harsanyi
  Management Science 50(12 suppl.):1804-1817, 2004

---

Reinhard Selten

Year Awarded: 1994 (jointly with John C. Harsanyi and John F. Nash Jr.)

INFORMS Publications:

• A Generalized Nash Solution for Two-Person Bargaining Games with Incomplete Information
  John C. Harsanyi, Reinhard Selten
  Management Science 18(5 part 2):80-106, 1972

• Designing for Deliberative Goal-Based Decision Making in Environments with Rare Adverse Events—An Experimental Study
  Martin Hohnisch, Sabine Pittnauer, Reinhard Selten (deceased), Andreas Pfingsten
  Organization Science 27(9):1417-1434, 2016

---

Robert E. Lucas Jr.

Year Awarded: 1995

INFORMS Publications:

• Optimal Management of a Research and Development Project
  Robert E. Lucas Jr.
  Management Science 17(11):679-697, 1971

---

William S. Vickrey

Year Awarded: 1996 (jointly with James Mirrlees)

INFORMS Publications:

• A Proposal for Revising New York's Subway Fare Structure
  William S. Vickrey
  Journal of the Operations Research Society of America 3(1):38-68, 1955

2000s

James J. Heckman

Year Awarded: 2000 (jointly with Daniel McFadden)

INFORMS Publications:

• Rejoinder—Natural Monopoly and the Bell System: Response to Charnes, Cooper and Sueyoshi
  David S. Evans, James J. Heckman
  Management Science 34(1):27-38, 1988

---

Daniel McFadden

Year Awarded: 2000 (jointly with James J. Heckman)

INFORMS Publications:

• The Choice Theory Approach to Market Research
  Daniel McFadden
  Marketing Science 5(4):275-297, 1986

---

Daniel Kahneman

Year Awarded: 2002 (jointly with Vernon L. Smith)

INFORMS Publications:

• Timid Choices and Bold Forecasts: A Cognitive Perspective on Risk Taking
  Daniel Kahneman, Dan Lovallo
  Management Science 39(1):17-31, 1993

---

Vernon L. Smith

Year Awarded: 2002 (jointly with Daniel Kahneman)

INFORMS Publications:

• Economic Equipment Policies: An Evaluation
  Vernon L. Smith
  Management Science 4(1):20-37, 1957

• Depreciation, Market Valuations, and Investment Theory
  Vernon L. Smith
  Management Science 9(4):690-696, 1963

---

Robert F. Engle

Year Awarded: 2003 (jointly with Clive Granger)

INFORMS Publications:

• Dynamic Conditional Beta Is Alive and Well in the Cross Section of Daily Stock Returns
  Turan G. Bali, Robert F. Engle, Yi Tang
  Management Science 63(11): 3760–3779, 2017

---

Finn E. Kydland

Year Awarded: 2004 (jointly with Edward C. Prescott)

INFORMS Publications:

• Hierarchical Decomposition in Linear Economic Models
  Finn Kydland
  Management Science 21(9):1029-1039, 1975

---

Robert J. Aumann (Biographical Profile)

Year Awarded: 2005 (jointly with Thomas C. Schelling)

INFORMS Publications:

• Some Thoughts on the Minimax Principle
  R. J. Aumann, M. Maschler
  Management Science 18(5 part 2):54-63, 1972

• Approximate Purification of Mixed Strategies
  R. J. Aumann, Y. Katznelson, R. Radner, R. W. Rosenthal, B. Weiss
  Mathematics of Operations Research 8(3):327-341, 1983

• Communications to the Editor—Response to Taylor's “Resolution of a Paradox: Mini-Max Rehabilitated”
  Michael Maschler, Robert J. Aumann,
  Management Science 20(9):1316, 1974

---

Thomas C. Schelling

Year Awarded: 2005 (jointly with Robert J. Aumann)

INFORMS Publications:

• Dispersal, Deterrence, and Damage
  T. C. Schelling
  Operations Research 9(3):363-370, 1961

• The Future of Arms Control
  Thomas C. Schelling
  Operations Research 9(5):722-731, 1961

• Decision Making and Problem Solving
  Herbert A. Simon, George B. Dantzig, Robin Hogarth, Charles R. Plott, Howard Raiffa, Thomas C. Schelling, Kenneth A. Shepsle, Richard Thaler, Amos Tversky, Sidney Winter
  Interfaces 17(5):11-31, 1987

---

Leonid Hurwicz (Biographical Profile)

Year Awarded: 2007 (jointly with Eric Maskin and Roger B. Myerson)

INFORMS Publications:

• Gradient Methods for Constrained Maxima
  Kenneth Arrow, Leonid Hurwicz
  Operations Research 5(2):258-265, 1957

---

Roger B. Myerson

Year Awarded: 2007 (jointly with Leonid Hurwicz and Eric Maskin)

INFORMS Publications:

• Graphs and Cooperation in Games
  Roger B. Myerson
  Mathematics of Operations Research 2(3):225-229, 1977

• Threat Equilibria and Fair Settlements in Cooperative Games
  Roger B. Myerson
  Mathematics of Operations Research 3(4):265-274, 1978

• Optimal Auction Design
  Roger B. Myerson
  Mathematics of Operations Research 6(1):58-73, 1981

• Comments on “Games with Incomplete Information Played by ‘Bayesian’ Players, I–III Harsanyi's Games with Incoplete Information”
  Roger B. Myerson
  Management Science 50(12 suppl.):1818-1824, 2004

2010s

Alvin E. Roth (Author Spotlight)

Year Awarded: 2012 (jointly with Lloyd S. Shapley)

INFORMS Publications:

• Subsolutions and the Supercore of Cooperative Games
  Alvin E. Roth
  Mathematics of Operations Research 1(1):43-49, 1976

• Individual Rationality and Nash's Solution to the Bargaining Problem
  Alvin E. Roth
  Mathematics of Operations Research 2(1):64-65, 1976

• The Effects of Communication and Information Availability in an Experimental Study of a Three-Person Game
  J. Keith Murnighan, Alvin E. Roth
  Management Science 23(12):1336-1348, 1977

• The Economics of Matching: Stability and Incentives
  Alvin E. Roth
  Mathematics of Operations Research 7(4):617-628, 1982

• Note—Subjective Probability and the Theory of Games: Some Further Comments
  Alvin E. Roth, Françoise Schoumaker
  Management Science 29(11):1337-1340, 1983

• Conflict and Coincidence of Interest in Job Matching: Some New Results and Open Questions
  Alvin E. Roth
  Mathematics of Operations Research 10(3):379-389, 1985

• Stable Matchings, Optimal Assignments, and Linear Programming
  Alvin E. Roth, Uriel G. Rothblum, John H. Vande Vate
  Mathematics of Operations Research 18(4):803-828, 1993

• Auctions of Homogeneous Goods with Increasing Returns: Experimental Comparison of Alternative “Dutch” Auctions
  Elena Katok, Alvin E. Roth
  Management Science 50(8):1044-1063, 2004

• Kidney Exchange and the Alliance for Paired Donation: Operations Research Changes the Way Kidneys Are Transplanted
  Ross Anderson, Itai Ashlagi, David Gamarnik, Michael Rees, Alvin E. Roth, Tayfun Sönmez, M. Utku Ünver
  Interfaces 45(1):26-42, 2015

• Kidney Exchange: An Operations Perspective
  Itai Ashlagi, Alvin E. Roth
  Management Science 67(9):5455-5479, 2021

---

Lloyd S. Shapley (Biographical Profile)

Year Awarded: 2012 (jointly with Alvin E. Roth)

INFORMS Publications:

• Values of Large Games, I: A Limit Theorem
  N. Z. Shapiro, L. S. Shapley
  Mathematics of Operations Research 3(1):1-9, 1978

• Values of Large Games II: Oceanic Games
  J. W. Minor, L. S. Shapley
  Mathematics of Operations Research 3(4):290-307, 1978

• Mathematical Properties of the Banzhaf Power Index
  Pradeep Dubey, Lloyd S. Shapley
  Mathematics of Operations Research 4(2):99-131, 1979

• Geometric Properties of the Kernel, Nucleolus, and Related Solution Concepts
  M. Maschler, B. Peleg, L. S. Shapley
  Mathematics of Operations Research 4(4):303-338, 1979

---

Eugene F. Fama

Year Awarded: 2013 (jointly with Lars Peter Hansen and Robert Shiller)

INFORMS Publications:

• Portfolio Analysis in a Stable Paretian Market
  Eugene F. Fama
  Management Science 11(3):404-419, 1965

• Three Asset Cash Balance and Dynamic Portfolio Problems
  Gary D. Eppen, Eugene F. Fama
  Management Science 17(5):311-319, 1971

---

Richard H. Thaler

Year Awarded: 2017

INFORMS Publications:

• Mental Accounting and Consumer Choice
  Richard Thaler
  Marketing Science 4(3):199-214, 1985

• Decision Making and Problem Solving
  Herbert A. Simon, George B. Dantzig, Robin Hogarth, Charles R. Plott, Howard Raiffa, Thomas C. Schelling, Kenneth A. Shepsle, Richard Thaler, Amos Tversky, Sidney Winter
  Interfaces 17(5):11-31, 1987

• Gambling with the House Money and Trying to Break Even: The Effects of Prior Outcomes on Risky Choice
  Richard H. Thaler, Eric J. Johnson
  Management Science 36(6):643-660, 1990

• Risk Aversion or Myopia? Choices in Repeated Gambles and Retirement Investments
  Shlomo Benartzi, Richard Thaler
  Management Science 45(3):364-381, 1999

• Commentary—Mental Accounting and Consumer Choice: Anatomy of a Failure
  Richard H. Thaler
  Marketing Science 27(1):12-14, 2008

• Mental Accounting and Consumer Choice (reprint)
  Richard H. Thaler
  Marketing Science 27(1):15-25, 2008

• Split or Steal? Cooperative Behavior When the Stakes Are Large
  Martin J. van den Assem, Dennie van Dolder, Richard H. Thaler
  Management Science 58(1):2-20, 2011

• The Loser's Curse: Decision Making and Market Efficiency in the National Football League Draft
  Cade Massey, Richard H. Thaler
  Management Science 59(7):1479-1495, 2013

2020s

Paul R. Milgrom

Year Awarded: 2020 (jointly with Robert B. Wilson)

INFORMS Publications:

• Distributional Strategies for Games with Incomplete Information
  Paul R. Milgrom, Robert J. Weber
  Mathematics of Operations Research 10(4):619-632, 1985

---

Robert B. Wilson

Year Awarded: 2020 (jointly with Paul R. Milgrom)

INFORMS Publications:

• On Programming under Uncertainty
  Robert Wilson
  Operations Research 14(4):652-657, 1966

• Programming Variable Factors
  Robert Wilson
  Management Science 13(1):144-151, 1966

• Letter to the Editor—Stronger Cuts in Gomory's All-Integer Integer Programming Algorithm
  Robert B. Wilson
  Operations Research 15(1):155-157, 1967

• A Pareto-Optimal Dividend Policy
  Robert B. Wilson
  Management Science 13(9):756-764, 1967

• Competitive Bidding with Asymmetric Information
  Robert B. Wilson
  Management Science 13(11):816-820, 1967

• Communications to the Editor—Competitive Bidding with Disparate Information
  Robert B. Wilson
  Management Science 15(7):446-452, 1969

• Investment Analysis Under Uncertainty
  Robert Wilson
  Management Science 15(12):B-650-B-664, 1969

• Integer Programming Via Modular Representations
  Robert Wilson
  Management Science 16(5):289-294, 1970

• Computing Equilibria of Two-Person Games from the Extensive Form
  Robert Wilson
  Management Science 18(7):448-460, 1972

• Nonlinear Pricing in Markets with Interdependent Demand
  Shmuel S. Oren, Stephen A. Smith, Robert B. Wilson
  Marketing Science 1(3):287-313, 1982

• Optimal Contract Period for Priority Service
  Hung-Po Chao, Robert Wilson
  Operations Research 38(4):598-606, 1990

• Supply Function Equilibrium in a Constrained Transmission System
  Robert Wilson
  Operations Research 56(2):369-382, 2008

• Metastable Equilibria
  Srihari Govindan, Robert Wilson
  Mathematics of Operations Research 33(4):787-820, 2008

---

Guido W. Imbens

Year Awarded: 2021 (jointly with David Card and Joshua D. Angrist)

INFORMS Publications:

• Bayesian Meta-Prior Learning Using Empirical Bayes
  Sareh Nabi, Houssam Nassif, Joseph Hong, Hamed Mamani, Guido Imbens
  Management Science 68(3):1737–1755, 2022

• Optimal Experimental Design for Staggered Rollouts
  Ruoxuan Xiong, Susan Athey, Mohsen Bayati, Guido Imbens
  Management Science 70(8):5317–5336, 2024

---

Philip H. Dybvig

Year Awarded: 2022 (jointly with Ben Bernanke and Douglas Diamond)

INFORMS Publications:

• Verification Theorems for Models of Optimal Consumption and Investment with Retirement and Constrained Borrowing
  Philip H. Dybvig, Hong Liu
  Mathematics of Operations Research 36(4):620–635, 2011

---

Daron Acemoglu

Year Awarded: 2024 (jointly with Simon Johnson and James Robinson)

INFORMS Publications:

• Competition and Efficiency in Congested Markets
  Daron Acemoglu, Asuman Ozdaglar
  Mathematics of Operations Research 32(1):1-31, 2007

• Generalized Poincaré-Hopf Theorem for Compact Nonsmooth Regions
  Alp Simsek, Asuman Ozdaglar, Daron Acemoglu
  Mathematics of Operations Research 32(1):193-214, 2007

• Local Indices for Degenerate Variational Inequalities
  Alp Simsek, Asuman Ozdaglar, Daron Acemoglu
  Mathematics of Operations Research 33(2):291-300, 2008

• Opinion Fluctuations and Disagreement in Social Networks
  Daron Acemoglu, Giacomo Como, Fabio Fagnani, Asuman Ozdaglar
  Mathematics of Operations Research 38(1):1-27, 2013

• Informational Braess’ Paradox: The Effect of Information on Traffic Congestion
  Daron Acemoglu, Ali Makhdoumi, Azarakhsh Malekian, Asuman Ozdaglar
  Operations Research 66(4):893-917, 2018

• Testing, Voluntary Social Distancing, and the Spread of an Infection
  Daron Acemoglu, Ali Makhdoumi, Azarakhsh Malekian, Asuman Ozdaglar
  Operations Research 72(2):533-548, 2024