Hicks-Tinbergen Award

2022 Hicks-Tinbergen Award Recipients:

Paper: Buying First or Selling First in Housing Markets (JEEA Volume 19 Issue 1)

Authors: Espen R Moen, Plamen T Nenov, Florian Sniekers

Motiviation: This paper provides novel insights into the dynamics of house prices. It does so by modeling transaction sequences in housing markets with costly search. When housing prices rise, home switchers buy first and sell after. When housing prices fall, home switchers sell first and buy after. This leads to strategic complementarities in behaviour, multiple steady state equilibria and large fluctuations in the supply and demand of housing, which can only be absorbed by prices given fixed housing stocks. The qualitative relevance of the novel mechanism is borne out in detailed Danish data that matches property-owner data for housing transactions. In emphasising the role that the sequencing of housing transactions play, the paper makes a substantive contribution to macro and micro-orientated studies of housing markets.

Award Committee: Imran Rasul (Chair), Jan Eeckhout and Silvana Tenreyro

Past Award Winners


Competition and the Welfare Gains from Transportation Infrastructure: Evidence from the Golden Quadrilateral of India (JEEA Volume 17 Issue 6)

Jose Asturias, Manuel García-Santana and Roberto Ramos

Award Committee: Imran Rasul (Chair), Oriana Bandiera and Kjetil Storesletten


Long-term Persistence (JEEA 14:6) - Luigi Guiso, Paola Sapienza and Luigi Zingales

Award Committee: Juuso Valimaki (Chair), Philippe Aghion and Per Krusell


The Balanced US Press (JEEA 13:2) - Riccardo Puglisi and James Snyder

Award Committee: Juuso Valimaki (Chair), Rachel Griffith and Eliana La Ferrara


What Good Is Wealth Without Health? The Effect of Health on the Marginal Utility of Consumption (JEEA Volume 11 Issue s1) - Amy Finkelstein, Erzo F.P. Luttmer, and Matthew Notowidigdo

Award Committee: Fabrizio Zilibotti (Chair), Manuel Arellano and Maristella Botticini


Culture and Institutions: Economic Development in the Regions of Europe (JEEA Volume 8 Issue 4) - Guido Tabellini

Award Committee: Fabrizio Zilibotti (Chair), Orazio Attanasio and Christopher Pissarides


Youth Unemployment and Crime in France (JEEA Volume 7 Issue 5) - Denis Fougère, Francis Kramarz and Julien Pouget

Award Committee: Fabrizio Zilibotti (Chair), Ernst Fehr and Jordi Galí


Ego Utility, Overconfidence, and Task Choice (JEEA Volume 4 Issue 4) - Botond Köszegi

Award Committee:  Xavier Vives (Chair), Andreu Mas-Colell and Timothy Besley


Capital, Labor and the Firm: A Study of German Codetermination - Gary Gorton and Frank A. Schmid

Award Committee: Mathias Dewatripont (Chair), Guido Tabellini and Xavier Vives


An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area (JEEA 1:5) - Frank Smets and Raf Wouters

Award Committee: Torsten Persson (Chair), Thomas Mariotti and Thomas Piketty


Electoral competition and politician turnover (EER, 45 (1), 1/2001, 1-26) - Juan Carrillo and Thomas Mariotti

Award Committee: Philippe Aghion (Chair), Giuseppe Bertola and Ernst Fehr


Gift exchange and reciprocity in competitive experimental markets (EER 42/1 (1998), 1-34)- Ernst Fehr, Georg Kirchsteiger and Arno Riedl

Award Committee: Peter Neary (Chair), Charles Bean and Timo Terasvirta


Wages, profits and the international portfolio puzzle (EER, 40 (1997), 219-254) - Laura Bottazzi, Paolo Pesenti and Eric van Wincoop

Award Committee: Eric van Damme (Chair), Roland Benabou and Costas Meghir


Job Matching and Job Competition: Are lower educated workers at the back of job queues? (EER, 39 (1995),1717- 1731) - Jan van Ours and Geert Rider

Award Committee: Richard Blundell (Chair), Willem Buiter and Jean Tirole


Customer coalitions, Monopoly price discrimination and generic entry deterrence (EER, 37 (1993), 1569-1597) - Robert Innesq and Richard J. Sexton

Award Committee: Angus Deaton (Chair), Jean-Jacques Laffont and Lars Svensson


Price formation for fish: An application of an inverse demand function (EER, 33 (1989), 1509-1525) - A.P. Barten and L.J. Bettendorf

Award Committee: Marc Nerlove (Chair), Francesco Giavazzi and John Sutton