New York - University of Chicago professor Kevin Murphy is an award-winning economist. His most prestigious honor is the John Bates Clark medal, won in 1997. For economics, it's up there with the Nobel Prize. Murphy testified last week in the US Airways v. Sabre trial here, dueling with a winner of that other award, Joseph Stiglitz. Stiglitz had testified for the plaintiffs. Speaking in Sabre's defense, Murphy thoroughly disagreed.
What it means for the trial is unclear . . .