Douglass C. North

AAA

DEFINITION of 'Douglass C. North'

An American economist and winner of the 1993 Nobel Memorial Prize in Economics, along with Robert William Fogel, for his application of economic theory and quantitative methods to economic history. His research focuses on how institutions affect economic development.

INVESTOPEDIA EXPLAINS 'Douglass C. North'

Born in 1920 in Massachusetts, North earned his Ph.D. from the University of California at Berkeley. Douglass North's positions have included work as a senior fellow with Stanford University's free-market think tank, the Hoover Institution. Prior to becoming an economist, he served as a navigator in the Merchant Marines. North has taught economics and history at Washington University in St. Louis and the University of Washington at Seattle.

RELATED TERMS
  1. Economist

    An expert who studies the relationship between a society's resources ...
  2. Free Market

    A market economy based on supply and demand with little or no ...
  3. Quantitative Analysis

    A business or financial analysis technique that seeks to understand ...
  4. Endowment Effect

    The endowment effect describes a circumstance in which an individual ...
  5. Self-enhancement

    The self-enhancing bias is the tendency for individuals take ...
  6. Gamification

    Gamification describes the incentivization of people's engagement ...
Related Articles
  1. Entrepreneurship

    Adam Smith And "The Wealth Of Nations"

    Adam Smith's 1776 classic may have had the largest global impact on economic thought.
  2. Economics

    The History Of Economic Thought

    Economics is a vital part of every day life. Discover the major players who shaped its development.
  3. Economics

    How A Limited Government Affects A Country's Finances

    Countries with limited governments have fewer laws about what individuals and businesses can and can’t do. What's the net result?
  4. Investing Basics

    How Does Goodwill Affect Financial Statements?

    Goodwill is a bit of a paradox--intangible, yet it is recorded as an asset on the purchasing company's balance sheet.
  5. Investing Basics

    Using Normal Distribution Formula To Optimize Your Portfolio

    Normal or bell curve distribution can be used in portfolio theory to help portfolio managers maximize return and minimize risk.
  6. Investing Basics

    R-Squared

    Learn more about this statistical measurement used to represent movement between a security and its benchmark.
  7. Insurance

    The Government And Risk: A Love-Hate Relationship

    Though the U.S. government can help its citizens by subsidizing risky loans, the costs always come back to the taxpayers.
  8. Fundamental Analysis

    Can Good News Be A Signal To Sell?

    Sometimes positive announcements can mean bad news for a stock. Find out why.
  9. Fundamental Analysis

    Ethical Investing Tutorial

    Learn everything there is to know about ethical investing.
  10. Fundamental Analysis

    Beware Of Wall Street's Three Big Lies

    Don't get swindled into buying snake oil from Wall Street. Find out three lies that can lead to losing investments.

You May Also Like

Hot Definitions
  1. Fixed Cost

    A cost that does not change with an increase or decrease in the amount of goods or services produced. Fixed costs are expenses ...
  2. Subsidy

    A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy ...
  3. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
  4. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  5. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  6. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
Trading Center