Learning from Lucas

The chalkboards are empty. Bob Lucas starts at the upper left, writing out an economic model and explaining as he goes. Sometimes he boxes in a result. When all the boards are filled, he stands back. Points to each box. Shows where this is going. “Then, BOOM, BOOM. It’s like watching fireworks.

In Search of Elusive Warning Signals: Tipping Points in Ecology and Economics

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A recent wave of research has demonstrated the existence of generic Early Warning Signals (EWS’s) that help predict a large class of abrupt changes in the state of ecological systems -- e.g. “tipping points.” Examples range from experimental laboratory systems of living organisms at tiny scales such as microbes up to ecosystems at the scale of lakes, rangelands, marine systems, or coral reefs.

Conference in Honor of Robert E. Lucas Jr.

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Nobel laureate Robert E. Lucas will be awarded the University of Chicago's rare and prestigious Division of Social Science Phoenix Prize in recognition of his influential contributions to changing the field of economics.

To commemorate this award, the Becker Friedman Institute, the Department of Economics, and the Division of the Social Sciences are hosting a conference in his honor at the University of Chicago. Distinguished colleagues and coauthors will participate in this research conference exploring the impact of Lucas’s work.