list of nobel prize winners in economic sciences
List of Nobel Prize Winners in Economic Sciences
The Sveriges Riksbank Prize in Economic Sciences is considered as the most coveted award in the field of economics. Let's take a look at those who could bag this prestigious title.
Did You Know?
Elinor Ostrom was the first woman laureate to bag the Nobel Prize in Economic Sciences. She received the coveted award in the year 2009.
The Nobel Prize is named after the multifaceted Alfred Nobel - scientist, author, and entrepreneur. Since its inception in 1901, the coveted Nobel Prize has been awarded to great achievers from across the globe for their exceptional work in different fields.
The Nobel Memorial Prize for Economic Sciences, unlike the prizes in other fields, was introduced much later in 1968. Officially, the prize is known as the Sveriges Riksbank Prize in Economic Sciences. This was owing to the fact that economics wasn't one of the fields initially introduced by Alfred Nobel. It was established later by 'Sveriges Riksbank', Sweden's central bank on their 300th anniversary.
Since its introduction, the Nobel Prize in Economics has been awarded to 76 laureates for their outstanding work in this field. Below is a list of economists who won this prestigious award.
Nobel Laureates in Economic Sciences
2015
Angus Deaton (USA/UK)
Award for his analysis of consumption, poverty, and welfare
2014
Jean Tirole (France)
Award for his analysis of market power and regulation
2013
Eugene F. Fama (USA), Lars Peter Hansen (USA), Robert J. Shiller (Cyprus)
Award for their empirical analysis of asset prices
2012
Alvin E. Roth (USA), Lloyd S. Shapley (USA)
Award for the theory of stable allocations and the practice of market design
2011
Thomas J. Sargent (USA), Christopher A. Sims (USA)
Award for their empirical research on cause and effect in the macroeconomy
2010
Peter A. Diamond (USA), Dale T. Mortensen (USA), Christopher A. Pissarides (Cyprus)
Award for their analysis of markets with search frictions
2009
Elinor Ostrom (USA)
Award for her analysis of economic governance, especially the commons
2009
Oliver E. Williamson (USA)
Award for his analysis of economic governance, especially the boundaries of the firm
2008
Paul Krugman (USA)
Award for his analysis of trade patterns and location of economic activity
2007
Leonid Hurwicz (Poland/USA), Eric S. Maskin (USA), Roger B. Myerson (USA)
Award for having laid the foundations of mechanism design theory
2006
Edmund S. Phelps (USA)
Award for his analysis of intertemporal tradeoffs in macroeconomic policy
2005
Robert J. Aumann (Israel/USA), Thomas C. Schelling (USA)
Award for having enhanced our understanding of conflict and cooperation through game-theory analysis
2004
Finn E. Kydland (Norway), Edward C. Prescott (USA)
Award for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles
2003
Robert F. Engle III (USA)
Award for methods of analyzing economic time series with time-varying volatility (ARCH)
2003
Clive W.J. Granger (USA)
Award for methods of analyzing economic time series with common trends (cointegration)
2002
Daniel Kahneman (Israel/USA)
Award for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty
2002
Vernon L. Smith (USA)
Award for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms
2001
George A. Akerlof (USA), A. Michael Spence (USA), Joseph E. Stiglitz (USA)
Award for their analyses of markets with asymmetric information
2000
James J. Heckman (USA)
Award for his development of theory and methods for analyzing selective samples
2000
Daniel L. McFadden (USA)
Award for his development of theory and methods for analyzing discrete choice
1999
Robert A. Mundell (Canada)
Award for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas
1998
Amartya Sen (India)
Award for his contributions to welfare economics
1997
Robert C. Merton (USA), Myron S. Scholes (USA/Canada)
Award for a new method to determine the value of derivatives
1996
James A. Mirrlees (UK), William Vickrey (USA/Canada)
Award for their fundamental contributions to the economic theory of incentives under asymmetric information
1995
Robert E. Lucas Jr. (USA)
Award for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy
1994
John C. Harsanyi (USA), John F. Nash Jr. (USA), Reinhard Selten (Germany)
Award for their pioneering analysis of equilibria in the theory of non-cooperative games
1993
Robert W. Fogel (USA), Douglass C. North (USA)
Award for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change
1992
Gary S. Becker (USA)
Award for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including nonmarket behaviour
1991
Ronald H. Coase (UK)
Award for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy
1990
Harry M. Markowitz (USA), Merton H. Miller (USA), William F. Sharpe (USA)
Award for their pioneering work in the theory of financial economics
1989
Trygve Haavelmo (Norway)
Award for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures
1988
Maurice Allais (France)
Award for his pioneering contributions to the theory of markets and efficient utilization of resources
1987
Robert M. Solow (USA)
Award for his contributions to the theory of economic growth
1986
James M. Buchanan Jr. (USA)
Award for his development of the contractual and constitutional bases for the theory of economic and political decision-making
1985
Franco Modigliani (Italy)
Award for his pioneering analyses of saving and of financial markets
1984
Richard Stone (UK)
Award for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis
1983
Gerard Debreu (France)
Award for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium
1982
George J. Stigler (USA)
Award for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation
1981
James Tobin (USA)
Award for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices
1980
Lawrence R. Klein (USA)
Award for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies
1979
Theodore W. Schultz (USA), Sir Arthur Lewis (UK)
Award for their pioneering research into economic development research with particular consideration of the problems of developing countries
1978
Herbert A. Simon (USA)
Award for his pioneering research into the decision-making process within economic organizations
1977
Bertil Ohlin (Sweden), James E. Meade (UK)
Award for their pathbreaking contribution to the theory of international trade and international capital movements
1976
Milton Friedman (USA)
Award for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy
1975
Leonid Vitaliyevich Kantorovich (Soviet Union), Tjalling C. Koopmans (USA)
Award for their contributions to the theory of optimum allocation of resources
1974
Gunnar Myrdal (Sweden), Friedrich August von Hayek (UK)
Award for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena
1973
Wassily Leontief (USA)
Award for the development of the input-output method and for its application to important economic problems
1972
John R. Hicks (UK), Kenneth J. Arrow (USA)
Award for their pioneering contributions to general economic equilibrium theory and welfare theory
1971
Simon Kuznets (USA)
Award for his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and social structure and process of development
1970
Paul A. Samuelson (USA)
Award for the scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science
1969
Ragnar Frisch (Norway), Jan Tinbergen (Netherlands)
Award for having developed and applied dynamic models for the analysis of economic processes