Keith: If there is ever a Nobel in Legal Science (a la Tom Ulen), Posner surely will be a frontrunner. Within economics itself, I agree with you that the lack of PhD should not be a dealbreaker. And to be sure, Posner’s contributions within economics itself are worthy of consideration. But I’m sticking to my guns here and casting my hypothetical non-Phd vote for Tullock.

Geoff: Ok. I’ll give you even hypothetical blog money (you know, like the kind I earn blogging here … ) on the “field” versus a group including Hart, Williamson, and Bhagwati? Loser buys hypothetical dinner …

Sure, Coase has already been recognized for his invaluable contributions to law and economics. But Posner’s enormous impact deserves to be recognized too, either on its own or together with the work of other major figures in the field such as Calabresi, Manne, and Shavell.

Certainly, if the Nobel committee is going to use citation analysis as a way to measure impact, Posner would have to be very high on the committee’s list. If it doesn’t happen for Posner this year, it ought to happen eventually.

Josh Wright, in a great post, likes Tullock, Klein, Alchian and Demsetz. Tyler Cowen also likes Tullock, but predicts Fama and Thaler. Two years ago I put in my vote for my former down-the-hall neighbor Tullock, saying that a prize…