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Nobel Prize in Economics - The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel

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The Nobel Memorial Prize in Economic Sciences, commonly referred to as the Nobel Prize in Economics, but officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (Swedish: Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an award for outstanding contributions to the field of economics, generally regarded as one of the most prestigious awards for that field. While not one of the Prizes established by the will of Alfred Nobel in 1895, it is consistently identified with them. The Prize in Economics, as it is referred to by the Nobel Foundation, was established and endowed by Sweden's central bank Sveriges Riksbank, in 1968 on the occasion of the bank's 300th anniversary, in memory of Alfred Nobel. Like the Nobel Laureates in Chemistry and Physics, Laureates in Economics are selected by the Royal Swedish Academy of Sciences, and a Prize Committee similar to the Nobel Committees is used. It was first awarded in 1969 to the Dutch and Norwegian economists Jan Tinbergen and Ragnar Frisch, "for having developed and applied dynamic models for the analysis of economic processes."

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded between 1969 and 2023, as follows:

  • Economic Sciences prizes: 55
  • Economic Sciences laureates: 93
  • Awarded women: 3
  • Youngest laureate: 46, Esther Duflo (in 2019)
  • Oldest laureate: 90, Leonid Hurwicz (in 2007)

All Prizes in Economic Sciences:

  • 2023: Claudia Goldin (b. 1946), American economist, “for having advanced our understanding of women’s labour market outcomes”
  • 2022: jointly to Ben S. Bernanke (b. 1953), American economist, Douglas W. Diamond (b. 1953), American economist and Philip H. Dybvig (b. 1955), American economist, "for research on banks and financial crises".
  • 2021: divided, one half awarded to David Card "for his empirical contributions to labour economics", the other half jointly to Joshua D. Angrist and Guido W. Imbens "for their methodological contributions to the analysis of causal relationships."
  • 2020: jointly to: Paul R. Milgrom Jr. (b. 1948) American economist and Robert B. Wilson (b. 1937) American economist, “for improvements to auction theory and inventions of new auction formats”.
  • 2019: jointly to: Abhijit Banerjee (b. 1961) Indian-American economist, his wife Esther Duflo (b. 1972) French-American economist and Michael Kremer (b. 1964) American economist “for their experimental approach to alleviating global poverty”
  • 2018: Divided equally between William D. Nordhaus (b. 1941) American economist, "for integrating climate change into long-run macroeconomic analysis" and Paul M. Romer (b. 1955) American economist, "for integrating technological innovations into long-run macroeconomic analysis."
  • 2017: Richard H. Thaler (b. 1945) American economist, "for his contributions to behavioural economics".
  • 2016: jointly to: Oliver Simon D'Arcy Hart (b. 1948) British-born American economist, and to Bengt R. Holmström (b. 1949) Finnish economist, "for their contributions to contract theory"
  • 2015: Sir Angus Deaton (b. 1945) British and American economist, "for his analysis of consumption, poverty, and welfare"
  • 2014: Jean Tirole (b. 1953) French economist, "for his analysis of market power and regulation"
  • 2013: jointly to Eugene F. Fama (b. 1939) American economist, and to: Lars Peter Hansen (b. 1952) American economist, and to: Robert J. Shiller (b. 1946) American economist, "for their empirical analysis of asset prices".
  • 2012: jointly to: Alvin E. Roth (b. 1951) American economist, and to Lloyd S. Shapley (b. 1923) American mathematician and economist, "for the theory of stable allocations and the practice of market design"
  • 2011: jointly to: Thomas J. Sargent (b. 1943) American economist, and to Christopher A. Sims (b. 1942) American economist, "for their empirical research on cause and effect in the macroeconomy"
  • 2010: jointly to: Peter A. Diamond (b. 1940) American economist, to Dale T. Mortensen (1939-2014) American economist, and to Sir Christopher A. Pissarides (b. 1948) Greek Cypriot economist, "for their analysis of markets with search frictions"
  • 2009: jointly to: Elinor Ostrom (1933 - 2012) American economist, "for her analysis of economic governance, especially the commons", and to Oliver E. Williamson (b. 1932) American economist. "for his analysis of economic governance, especially the boundaries of the firm"
  • 2008: Paul Krugman (b. 1953) American economist, "for his analysis of trade patterns and location of economic activity"
  • 2007: jointly to: Leonid Hurwicz (1917 – 2008) Russian-born American economist and mathematician, to Eric S. Maskin (b. 1950) American economist, and to Roger B. Myerson (b. 1951) American economist, "for having laid the foundations of mechanism design theory"
  • 2006: Edmund S. Phelps (b. 1933) American economist, "for his analysis of intertemporal tradeoffs in macroeconomic policy"
  • 2005: jointly to: Robert J. Aumann (b. 1930) Israeli-American mathematician, and to Thomas C. Schelling (b. 1921) American economist, "for having enhanced our understanding of conflict and cooperation through game-theory analysis"
  • 2004: jointly to: Finn E. Kydland (b. 1943) Norwegian economist, and to Edward C. Prescott (b. 1940) American economist, "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles"
  • 2003: jointly to: Robert F. Engle III (b. 1943) American economist, "for methods of analyzing economic time series with time-varying volatility (ARCH)" and to Clive W.J. Granger (1934 – 2009) British-American economist, "for methods of analyzing economic time series with common trends (cointegration)"
  • 2002: jointly to: Daniel Kahneman (b. 1934) Israeli-American psychologist, "for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty", and to Vernon L. Smith (b. 1927) American economist, "for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms".
  • 2001: jointly to: George A. Akerlof (b. 1940) American economist, to A. Michael Spence (b. 1943) American economist, and to Joseph E. Stiglitz (b. 1943) American economist, "for their analyses of markets with asymmetric information"
  • 2000: jointly to: James J. Heckman (b. 1944) American economist, "for his development of theory and methods for analyzing selective samples", and to Daniel L. McFadden (b. 1937) American economist, "for his development of theory and methods for analyzing discrete choice"
  • 1999: to Robert A. Mundell (b. 1944) American economist, "for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas"
  • 1998: to Amartya Kumar Sen (b. 1933) Indian economist and philosopher who since 1972 has taught and worked in the United Kingdom and the United States, "for his contributions to welfare economics"
  • 1997: jointly to: Robert C. Merton (b. 1944) American economist, and to Myron S. Scholes (b. 1941) Canadian-born American economist, "for a new method to determine the value of derivatives"
  • 1996: jointly to: Sir James A. Mirrlees (b. 1936) British economist, and to William Vickrey (1914 - 1996) Canadian-born American economist, "for their fundamental contributions to the economic theory of incentives under asymmetric information"
  • 1995: to Robert E. Lucas Jr (b. 1937) American economist, "for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy"
  • 1994: Jointly to: John C. Harsanyi (1920 – 2000) Hungarian-born American economist, to John F. Nash Jr. (b. 1928) American mathematician, and to Reinhard Selten (b. 1930) German economist, "for their pioneering analysis of equilibria in the theory of non-cooperative games".
  • 1993: jointly to: Robert W. Fogel (1927 – 2013) American economist, and to Douglass C. North (b. 1920) American economist, "for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change"
  • 1992: to Gary S. Becker (1930 – 2014) American economist, "for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including nonmarket behaviour"
  • 1991: to Ronald H. Coase (1910 – 2013) British-American economist, "for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy"
  • 1990: jointly to: Harry M. Markowitz (b. 1927) American economist, to Merton H. Miller (1923 – 2000) American economist, and to William F. Sharpe (b. 1934) American economist , "for their pioneering work in the theory of financial economics"
  • 1989: to Trygve Haavelmo (1911 – 1999) Norwegian economist, "for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures"
  • 1988: to Maurice Allais (1911 – 2010) French economist, "for his pioneering contributions to the theory of markets and efficient utilization of resources"
  • 1987: to Robert M. Solow' (b. 1924) American economist, "for his contributions to the theory of economic growth"
  • 1986: to James M. Buchanan Jr. (1919 – 2013) American economist, "for his development of the contractual and constitutional bases for the theory of economic and political decision-making"
  • 1985: to Franco Modigliani (1918 – 2003) Italian-born American economist, "for his pioneering analyses of saving and of financial markets"
  • 1984: to Sir John Richard Nicholas Stone (1913 – 1991) British economist, "for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis"
  • 1983: to Gerard Debreu (1921 – 2004) French economist and mathematician, "for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium".
  • 1982: To George J. Stigler (1911 – 1991) American economist, "for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation".
  • 1981: to James Tobin (1918 – 2002) American economist, "for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices".
  • 1980: to Lawrence R. Klein (1920 – 2013) American economist, "for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies"
  • 1979: jointly to: Theodore W. Schultz (1902 – 1998) American economist, and to Sir Arthur Lewis (1915 – 1991) Saint Lucia-born British economist, "for their pioneering research into economic development research with particular consideration of the problems of developing countries"
  • 1978: to Herbert A. Simon (1916 – 2001) American economist, "for his pioneering research into the decision-making process within economic organizations"
  • 1977: jointly to: Bertil Ohlin (1899 – 1979) Swedish economist, James E. Meade (1907 – 1995) British economist, "for their pathbreaking contribution to the theory of international trade and international capital movements"
  • 1976: to Milton Friedman (1912 – 2006) American economist, "for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy".
  • 1975: jointly to: Leonid Vitaliyevich Kantorovich (1912 – 1986) Soviet economist, and to Tjalling C. Koopmans (1910 – 1985) Dutch-American economist, "for their contributions to the theory of optimum allocation of resources"
  • 1974: jointly to: Gunnar Myrdal (1898 – 1987) Swedish economist, and to Friedrich August von Hayek (1899 – 1992) Austrian born economist, "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: to Wassily Leontief (1906 – 1999) Russian-born American economist, "for the development of the input-output method and for its application to important economic problems".
  • 1972: jointly to: John R. Hicks (1904 – 1989) British economist, and to Kenneth J. Arrow (1921 – 2017) American economist, "for their pioneering contributions to general economic equilibrium theory and welfare theory".
  • 1971: to Simon Kuznets (1901 – 1985) American economist, "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 to Paul A. Samuelson (1915 – 2009) American economist, "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 jointly to: Ragnar Frisch (1895 – 1973) Norwegian economist, and to Jan Tinbergen (1903 – 1994) Dutch economist, "for having developed and applied dynamic models for the analysis of economic processes"