Ig Nobel Economics and Management Prizes
| Peter Klein |
Thanks to Stéphane Saussier for reminding me that the 2010 Ig Nobel Prizes have been announced. The Economics award is a bit predictable:
ECONOMICS PRIZE: The executives and directors of Goldman Sachs, AIG, Lehman Brothers, Bear Stearns, Merrill Lynch, and Magnetar for creating and promoting new ways to invest money — ways that maximize financial gain and minimize financial risk for the world economy, or for a portion thereof.
But I’m particularly interested in the Management prize. I hadn’t heard of the paper, but anything with “Peter” in the title must be good:
MANAGEMENT PRIZE: Alessandro Pluchino, Andrea Rapisarda, and Cesare Garofalo of the University of Catania, Italy, for demonstrating mathematically that organizations would become more efficient if they promoted people at random.
REFERENCE: “The Peter Principle Revisited: A Computational Study,” Alessandro Pluchino, Andrea Rapisarda, and Cesare Garofalo, Physica A, vol. 389, no. 3, February 2010, pp. 467-72.