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List of Nobel Memorial Prize laureates in Economics

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List of Nobel Memorial Prize laureates in Economics

The announcement of the 2008 Nobel Memorial Prize in Economic Sciences in Stockholm. The winner of the prize was Paul Krugman.

The Nobel Memorial Prize in Economic Sciences, officially known as The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (Swedish: Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is awarded annually by the Royal Swedish Academy of Sciences to researchers in the field of economics.[1] The first award was given in 1969 to Ragnar Frisch and Jan Tinbergen.[2] Each recipient receives a medal, a diploma and a monetary award that has varied throughout the years.[3] In 1969, Frisch and Tinbergen were given a combined 375,000 SEK, which is equivalent to 2,871,041 SEK in December 2007. The award is presented in Stockholm at an annual ceremony on December 10, the anniversary of Nobel's death.[4]

As of the awarding of the 2014 prize, 46 Nobel Memorial Prizes in Economic Sciences have been given to 75 individuals.[5] Up to 2007, nine awards had been given for contributions to the field of macroeconomics, more than any other category.[6] The institution with the most affiliated Nobel laureates in Economics is the University of Chicago, which has 28 affiliated laureates.[7]


Laureates

Year Laureate Country Schools of economic thought Rationale
1969 Ragnar Frisch  Norway "for having developed and applied dynamic models for the analysis of economic processes"[2]
Jan Tinbergen  Netherlands
1970 Paul Samuelson  United States Keynesian "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"[8]
1971 Simon Kuznets  United States Institutional "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"[9]
1972 John Hicks  United Kingdom Keynesian "for their pioneering contributions to general economic equilibrium theory and welfare theory."[10]
Kenneth Arrow  United States Neoclassical
1973 Wassily Leontief Soviet Union
 United States
"for the development of the input-output method and for its application to important economic problems"[11]
1974 Gunnar Myrdal  Sweden Monetarism

Keynesian

Stockholm

"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."[12]
Friedrich Hayek  Austria
 United Kingdom
Austrian

Chicago

1975 Leonid Kantorovich Soviet Union "for their contributions to the theory of optimum allocation of resources"[13]
Tjalling Koopmans  Netherlands
 United States
1976 Milton Friedman  United States Chicago

Monetarism

"for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilisation policy"[14]
1977 Bertil Ohlin  Sweden Stockholm "for their pathbreaking contribution to the theory of international trade and international capital movements"[15]
James Meade  United Kingdom Keynesian
1978 Herbert A. Simon  United States Carnegie "for his pioneering research into the [16]
1979 Theodore Schultz  United States Chicago "for their pioneering research into economic development research with particular consideration of the problems of developing countries."[17]
Arthur Lewis  Saint Lucia
 United Kingdom
1980 Lawrence Klein  United States Keynesian "for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies"[18]
1981 James Tobin  United States Keynesian "for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices"[19]
1982 George Stigler  United States Chicago "for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation"[20]
1983 Gérard Debreu  France Neoclassical "for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium"[21]
1984 Richard Stone  United Kingdom "for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis"[22]
1985 Franco Modigliani  Italy Keynesian "for his pioneering analyses of saving and of financial markets"[23]
1986 James M. Buchanan  United States Chicago

Constitutional

"for his development of the contractual and constitutional bases for the theory of economic and political decision-making"[24]
1987 Robert Solow  United States Keynesian "for his contributions to the theory of economic growth"[25]
1988 Maurice Allais  France Neoclassical "for his pioneering contributions to the theory of markets and efficient utilization of resources"[26]
1989 Trygve Haavelmo  Norway Keynesian "for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures"[27]
1990 Harry Markowitz  United States Chicago "for their pioneering work in the theory of financial economics"[28]
Merton Miller Chicago
William Forsyth Sharpe
1991 Ronald Coase  United Kingdom Chicago

New institutional

"for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy"[29]
1992 Gary Becker  United States Chicago "for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including non-market behaviour"[30]
1993 Robert Fogel  United States Chicago "for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change"[31]
Douglass North New institutional
1994 John Harsanyi  United States "for their pioneering analysis of equilibria in the theory of non-cooperative games."[32]
John Forbes Nash
Reinhard Selten  Germany
1995 Robert Lucas, Jr.  United States New classical

Chicago

"for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy"[33]
1996 James Mirrlees  United Kingdom "for their fundamental contributions to the economic theory of incentives under asymmetric information"[34]
William Vickrey  Canada
 United States
Keynesian
1997 Robert C. Merton  United States "for a new method to determine the value of derivatives."[35]
Myron Scholes  Canada
 United States
Chicago
1998 Amartya Sen  India Capability approach "for his contributions to welfare economics"[36]
1999 Robert Mundell  Canada Keynesian

Supply-side

"for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas"[37]
2000 James Heckman  United States Chicago "for his development of theory and methods for analyzing selective samples"[38]
Daniel McFadden  United States "for his development of theory and methods for analyzing discrete choice"[38]
2001 George Akerlof  United States Keynesian "for their analyses of markets with asymmetric information"[39]
Michael Spence
Joseph E. Stiglitz Keynesian
2002 Daniel Kahneman  Israel
 United States
Behavioral "for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty"[40]
Vernon L. Smith  United States New classical "for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms"[40]
2003 Robert F. Engle  United States "for methods of analyzing economic time series with time-varying volatility (ARCH)"[41]
Clive Granger  United Kingdom "for methods of analyzing economic time series with common trends (cointegration)"[41]
2004 Finn E. Kydland  Norway New classical "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles."[42]
Edward C. Prescott  United States New classical
2005 Robert J. Aumann  United States
 Israel
"for having enhanced our understanding of conflict and cooperation through game-theory analysis."[43]
Thomas C. Schelling  United States
2006 Edmund S. Phelps  United States "for his analysis of intertemporal tradeoffs in macroeconomic policy"[44]
2007 Leonid Hurwicz  Poland
 United States
"for having laid the foundations of mechanism design theory"[45]
Eric S. Maskin  United States
Roger B. Myerson
2008 Paul Krugman  United States Keynesian "for his analysis of trade patterns and location of economic activity"[46]
2009 Elinor Ostrom  United States New institutional "for her analysis of economic governance, especially the commons"[47]
Oliver E. Williamson New institutional "for his analysis of economic governance, especially the boundaries of the firm"[47]
2010 Peter A. Diamond  United States "for their analysis of markets with search frictions"[48]
Dale T. Mortensen
Christopher A. Pissarides  Cyprus
2011 Thomas J. Sargent  United States Neoclassical "for their empirical research on cause and effect in the macroeconomy"[49]
Christopher A. Sims Neoclassical
2012 Alvin E. Roth  United States "for the theory of stable allocations and the practice of market design."[50]
Lloyd S. Shapley
2013 Eugene F. Fama  United States Chicago "for their empirical analysis of asset prices."[51]
Lars Peter Hansen Chicago
Robert J. Shiller Keynesian
2014 Jean Tirole  France "for his analysis of market power and regulation".[52]

See also

References

General
  • "All Laureates in Economics".  
Specific
  1. ^ "Nomination and Selection of the Laureates in Economics". Nobel Foundation. Archived from the original on 2008-07-15. Retrieved 2008-10-15. 
  2. ^ a b "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1969". Nobel Foundation. Retrieved 2008-10-14. 
  3. ^ "The Nobel Prize". Nobel Foundation. Retrieved 2008-10-15. 
  4. ^ "The Nobel Prize Award Ceremonies". Nobel Foundation. Archived from the original on 2008-08-22. Retrieved 2008-10-07. 
  5. ^ "All Laureates in Economics". Nobel Foundation. Retrieved 2014-10-17. 
  6. ^ "Economics Table". Nobel Foundation. Retrieved 2008-10-15. 
  7. ^ "Nobel Laureates of UChicago". The University of Chicago. Retrieved 2013-10-14. 
  8. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1970". Nobel Foundation. Retrieved 2008-10-14. 
  9. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1971". Nobel Foundation. Retrieved 2008-10-14. 
  10. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1972". Nobel Foundation. Retrieved 2008-10-14. 
  11. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1973". Nobel Foundation. Retrieved 2008-10-14. 
  12. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1974". Nobel Foundation. Retrieved 2008-10-14. 
  13. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1975". Nobel Foundation. Retrieved 2008-10-14. 
  14. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1976". Nobel Foundation. Retrieved 2008-10-14. 
  15. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1977". Nobel Foundation. Retrieved 2008-10-14. 
  16. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1978". Nobel Foundation. Retrieved 2008-10-14. 
  17. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1979". Nobel Foundation. Retrieved 2008-10-14. 
  18. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1980". Nobel Foundation. Retrieved 2008-10-14. 
  19. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1981". Nobel Foundation. Retrieved 2008-10-14. 
  20. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1982". Nobel Foundation. Retrieved 2008-10-14. 
  21. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1983". Nobel Foundation. Retrieved 2008-10-14. 
  22. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1984". Nobel Foundation. Retrieved 2008-10-14. 
  23. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1985". Nobel Foundation. Retrieved 2008-10-14. 
  24. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1986". Nobel Foundation. Retrieved 2008-10-14. 
  25. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1987". Nobel Foundation. Retrieved 2008-10-14. 
  26. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1988". Nobel Foundation. Retrieved 2008-10-14. 
  27. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1989". Nobel Foundation. Retrieved 2008-10-14. 
  28. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1990". Nobel Foundation. Retrieved 2008-10-14. 
  29. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1991". Nobel Foundation. Retrieved 2008-10-14. 
  30. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1992". Nobel Foundation. Retrieved 2008-10-14. 
  31. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1993". Nobel Foundation. Retrieved 2008-10-14. 
  32. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1994". Nobel Foundation. Retrieved 2008-10-14. 
  33. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1995". Nobel Foundation. Retrieved 2008-10-14. 
  34. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1996". Nobel Foundation. Retrieved 2008-10-14. 
  35. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1997". Nobel Foundation. Retrieved 2008-10-14. 
  36. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1998". Nobel Foundation. Retrieved 2008-10-14. 
  37. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1999". Nobel Foundation. Retrieved 2008-10-14. 
  38. ^ a b "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2000". Nobel Foundation. Retrieved 2008-10-14. 
  39. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2001". Nobel Foundation. Retrieved 2008-10-14. 
  40. ^ a b "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2002". Nobel Foundation. Retrieved 2008-10-14. 
  41. ^ a b "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2003". Nobel Foundation. Retrieved 2008-10-14. 
  42. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2004". Nobel Foundation. Retrieved 2008-10-14. 
  43. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2005". Nobel Foundation. Retrieved 2008-10-14. 
  44. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2006". Nobel Foundation. Retrieved 2008-10-14. 
  45. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2007". Nobel Foundation. Retrieved 2008-10-14. 
  46. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2008". Nobel Foundation. Retrieved 2008-10-14. 
  47. ^ a b "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2009". Nobel Foundation. Retrieved 2009-10-12. 
  48. ^ "The Prize in Economic Sciences 2010". Nobel Foundation. Retrieved 2010-10-11. 
  49. ^ "The Prize in Economic Sciences 2011". Nobel Foundation. Retrieved 2011-10-10. 
  50. ^ http://www.nobelprize.org/nobel_prizes/economics/laureates/2012/
  51. ^ http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2013/
  52. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2014". Nobel Foundation. Retrieved 2014-10-13. 

External links

  • Official website of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
  • Official website of the Royal Swedish Academy of Sciences
  • Official website of the Nobel Foundation

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