Martin J. Tobin

Martin J. Tobin was an influential American economist best known for his work in the fields of macroeconomics and finance. He contributed significantly to understanding market behaviors and patterns, particularly through his development of the "Tobin's q" theory, which analyzes the relationship between investment and market valuation. Tobin was awarded the Nobel Prize in Economic Sciences in 1981 for his research on portfolio selection and risk assessment. His insights have helped shape modern economic thought, particularly in understanding how individuals and institutions make investment decisions under uncertainty.