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 economic sciences.[1] The first prize was awarded 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 2018 prize, 50 Nobel Memorial Prizes in Economic Sciences have been given to 81 individuals.[5] Up to 2007, nine awards had been given for contributions to the field of macroeconomics, more than any other category.[6] As of October 2018, the institution with the most affiliated laureates in economic sciences is the University of Chicago, which has 32 affiliated laureates.[7]

LaureatesEdit

Year Laureate Country Rationale Ph.D. alma mater Institution (most significant tenure/at time of receipt)
1969   Ragnar Frisch   Norway "for having developed and applied dynamic models for the analysis of economic processes"[2] University of Oslo University of Oslo
  Jan Tinbergen   Netherlands Leiden University Erasmus University
1970   Paul Samuelson   United States "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] Harvard University Massachusetts Institute of Technology
1971   Simon Kuznets   United States "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] Columbia University Harvard University
1972   John Hicks   United Kingdom "for their pioneering contributions to general economic equilibrium theory and welfare theory."[10] University of Oxford University of Oxford
  Kenneth Arrow   United States Columbia University Harvard University
1973   Wassily Leontief   Soviet Union
  United States
"for the development of the input-output method and for its application to important economic problems"[11] University of Berlin Harvard University
1974   Gunnar Myrdal   Sweden "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] Stockholm University Stockholm University
  Friedrich Hayek   Austria
  United Kingdom
University of Vienna London School of Economics, University of Chicago
1975   Leonid Kantorovich   Soviet Union "for their contributions to the theory of optimum allocation of resources"[13] Leningrad State University Novosibirsk State University
  Tjalling Koopmans   Netherlands
  United States
University of Leiden University of Chicago, Yale University
1976   Milton Friedman   United States "for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilisation policy"[14] Columbia University University of Chicago
1977   Bertil Ohlin   Sweden "for their pathbreaking contribution to the theory of international trade and international capital movements"[15] Stockholm University Stockholm School of Economics
  James Meade   United Kingdom University of Cambridge University of Cambridge
1978   Herbert A. Simon   United States "for his pioneering research into the decision-making process within economic organizations"[16] University of Chicago Carnegie Mellon University
1979 Theodore Schultz   United States "for their pioneering research into economic development research with particular consideration of the problems of developing countries."[17] University of Wisconsin-Madison University of Chicago
Arthur Lewis   Saint Lucia
  United Kingdom
London School of Economics


Princeton University
1980 Lawrence Klein   United States "for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies"[18] Massachusetts Institute of Technology University of Pennsylvania
1981   James Tobin   United States "for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices"[19] Harvard University Yale University
1982 George Stigler   United States "for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation"[20] University of Chicago University of Chicago
1983   Gérard Debreu   France "for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium"[21] École Normale Supérieure
University of Paris
University of California, Berkeley
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] University of Cambridge University of Cambridge
1985   Franco Modigliani   Italy "for his pioneering analyses of saving and of financial markets"[23] The New School for Social Research Massachusetts Institute of Technology
1986   James M. Buchanan   United States "for his development of the contractual and constitutional bases for the theory of economic and political decision-making"[24] University of Chicago George Mason University
1987   Robert Solow   United States "for his contributions to the theory of economic growth"[25] Harvard University Massachusetts Institute of Technology
1988   Maurice Allais   France "for his pioneering contributions to the theory of markets and efficient utilization of resources"[26] École Polytechnique École Nationale Supérieure des Mines de Paris, Paris Nanterre University
1989   Trygve Haavelmo   Norway "for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures"[27] University of Oslo University of Oslo
1990 Harry Markowitz   United States "for their pioneering work in the theory of financial economics"[28] University of Chicago City University of New York
Merton Miller Johns Hopkins University Carnegie Mellon University, University of Chicago
  William F. Sharpe University of California, Los Angeles Stanford University
1991   Ronald Coase   United Kingdom "for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy"[29] London School of Economics University of Chicago, London School of Economics
1992   Gary Becker   United States "for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including non-market behaviour"[30] University of Chicago University of Chicago
1993   Robert Fogel   United States "for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change"[31] Johns Hopkins University University of Chicago
  Douglass North University of California, Berkeley Washington University in St Louis
1994 John Harsanyi   Hungary
  United States
"for their pioneering analysis of equilibria in the theory of non-cooperative games."[32] Stanford University University of California, Berkeley
  John Forbes Nash   United States Princeton University Princeton University
  Reinhard Selten   Germany Goethe University Frankfurt University of Bonn
1995 Robert Lucas, Jr.   United States "for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy"[33] University of Chicago University of Chicago
1996 James Mirrlees   United Kingdom "for their fundamental contributions to the economic theory of incentives under asymmetric information"[34] University of Cambridge University of Oxford, University of Cambridge
William Vickrey   Canada
  United States
Columbia University Columbia University
1997   Robert C. Merton   United States "for a new method to determine the value of derivatives."[35] Massachusetts Institute of Technology Massachusetts Institute of Technology
  Myron Scholes   Canada
  United States
University of Chicago Massachusetts Institute of Technology
1998   Amartya Sen   India "for his contributions to welfare economics"[36] University of Cambridge Harvard University, University of Cambridge
1999   Robert Mundell   Canada "for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas"[37] Massachusetts Institute of Technology Columbia University
2000   James Heckman   United States "for his development of theory and methods for analyzing selective samples"[38] Princeton University University of Chicago
  Daniel McFadden   United States "for his development of theory and methods for analyzing discrete choice"[38] University of Minnesota University of California Berkeley, Massachusetts Institute of Technology
2001   George Akerlof   United States "for their analyses of markets with asymmetric information"[39] Massachusetts Institute of Technology Georgetown University, University of California Berkeley
  Michael Spence Harvard University Harvard University
  Joseph E. Stiglitz Massachusetts Institute of Technology Princeton University, Columbia University
2002   Daniel Kahneman   Israel
  United States
"for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty"[40] University of California, Berkeley Princeton University, University of British Columbia
  Vernon L. Smith   United States "for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms"[40] Harvard University University of Arizona
2003   Robert F. Engle   United States "for methods of analyzing economic time series with time-varying volatility (ARCH)"[41] Cornell University University of California, San Diego
  Clive Granger   United Kingdom "for methods of analyzing economic time series with common trends (cointegration)"[41] University of Nottingham University of California, San Diego
2004   Finn E. Kydland   Norway "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles."[42] Carnegie Mellon University Carnegie Mellon University
  Edward C. Prescott   United States Carnegie Mellon University Carnegie Mellon University
2005   Robert J. Aumann   United States
  Israel
"for having enhanced our understanding of conflict and cooperation through game-theory analysis."[43] Massachusetts Institute of Technology Hebrew University of Jerusalem
  Thomas C. Schelling   United States Harvard University Yale University, Harvard University
2006   Edmund S. Phelps   United States "for his analysis of intertemporal tradeoffs in macroeconomic policy"[44] Yale University Columbia University
2007   Leonid Hurwicz   Poland
  United States
"for having laid the foundations of mechanism design theory"[45] London School of Economics University of Minnesota, Iowa State University
  Eric S. Maskin   United States Harvard University Harvard University
  Roger B. Myerson Harvard University Northwestern University
2008   Paul Krugman   United States "for his analysis of trade patterns and location of economic activity"[46] Massachusetts Institute of Technology Princeton University
2009   Elinor Ostrom   United States "for her analysis of economic governance, especially the commons"[47] University of California, Los Angeles Indiana University
  Oliver E. Williamson "for his analysis of economic governance, especially the boundaries of the firm"[47] Carnegie Mellon University University of Pennsylvania, University of California Berkeley
2010   Peter A. Diamond   United States "for their analysis of markets with search frictions"[48] Massachusetts Institute of Technology Massachusetts Institute of Technology
  Dale T. Mortensen Carnegie Mellon University Northwestern University
  Christopher A. Pissarides   Cyprus London School of Economics London School of Economics
2011   Thomas J. Sargent   United States "for their empirical research on cause and effect in the macroeconomy"[49] Harvard University Hoover Institution, University of Minnesota
  Christopher A. Sims Harvard University University of Minnesota
2012   Alvin E. Roth   United States "for the theory of stable allocations and the practice of market design."[50] Stanford University Stanford University, Harvard University
  Lloyd S. Shapley Princeton University University of California, Los Angeles
2013   Eugene F. Fama   United States "for their empirical analysis of asset prices."[51] University of Chicago University of Chicago
  Lars Peter Hansen University of Minnesota University of Chicago
  Robert J. Shiller Massachusetts Institute of Technology Yale University
2014   Jean Tirole   France "for his analysis of market power and regulation".[52] Massachusetts Institute of Technology Massachusetts Institute of Technology
Toulouse School of Economics
École des hautes études en sciences sociales
2015   Angus Deaton   United Kingdom
  United States
"for his analysis of consumption, poverty, and welfare".[53] University of Cambridge University of Bristol, Princeton University
2016   Oliver Hart   United Kingdom
  United States
"for their contributions to contract theory".[54] Princeton University Massachusetts Institute of Technology, Harvard University
  Bengt Holmström   Finland Stanford University Massachusetts Institute of Technology, Yale University
2017   Richard Thaler   United States "for his contributions to behavioural economics".[55] University of Rochester Cornell University, University of Chicago
2018   William Nordhaus   United States "for integrating climate change into long-run macroeconomic analysis"[56] Massachusetts Institute of Technology Yale University
  Paul Romer "for integrating technological innovations into long-run macroeconomic analysis" University of Chicago New York University

See alsoEdit

ReferencesEdit

CitationsEdit

  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. Archived from the original on 2008-07-06. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  3. ^ "The Nobel Prize". Nobel Foundation. Archived from the original on 2008-10-15. Retrieved 2008-10-15. Cite uses deprecated parameter |dead-url= (help)
  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. Archived from the original on 2013-06-01. Retrieved 2014-10-17. Cite uses deprecated parameter |dead-url= (help)
  6. ^ "Economics Table". Nobel Foundation. Archived from the original on 2009-02-12. Retrieved 2008-10-15. Cite uses deprecated parameter |dead-url= (help)
  7. ^ "Nobel Laureates of UChicago". The University of Chicago. Archived from the original on 2012-09-08. Retrieved 2018-10-10. Cite uses deprecated parameter |dead-url= (help)
  8. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1970". Nobel Foundation. Archived from the original on 2008-06-11. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  9. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1971". Nobel Foundation. Archived from the original on 2008-10-19. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  10. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1972". Nobel Foundation. Archived from the original on 2008-10-22. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  11. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1973". Nobel Foundation. Archived from the original on 2008-09-23. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  12. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1974". Nobel Foundation. Archived from the original on 2008-09-28. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  13. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1975". Nobel Foundation. Archived from the original on 2008-12-20. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  14. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1976". Nobel Foundation. Archived from the original on 2008-04-12. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  15. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1977". Nobel Foundation. Archived from the original on 2008-10-28. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  16. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1978". Nobel Foundation. Archived from the original on 2008-11-04. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  17. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1979". Nobel Foundation. Archived from the original on 2008-09-17. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  18. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1980". Nobel Foundation. Archived from the original on 2008-12-07. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  19. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1981". Nobel Foundation. Archived from the original on 2008-12-24. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  20. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1982". Nobel Foundation. Archived from the original on 2008-11-04. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  21. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1983". Nobel Foundation. Archived from the original on 2008-10-28. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  22. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1984". Nobel Foundation. Archived from the original on 2008-11-04. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  23. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1985". Nobel Foundation. Archived from the original on 2008-10-28. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
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  26. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1988". Nobel Foundation. Archived from the original on 2008-10-28. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  27. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1989". Nobel Foundation. Archived from the original on 2008-10-22. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  28. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1990". Nobel Foundation. Archived from the original on 2008-10-11. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  29. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1991". Nobel Foundation. Archived from the original on 2008-10-28. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  30. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1992". Nobel Foundation. Archived from the original on 2008-10-28. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  31. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1993". Nobel Foundation. Archived from the original on 2008-10-19. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  32. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1994". Nobel Foundation. Archived from the original on 2008-10-17. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  33. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1995". Nobel Foundation. Archived from the original on 2008-10-07. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
  34. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1996". Nobel Foundation. Archived from the original on 2008-10-28. Retrieved 2008-10-14. Cite uses deprecated parameter |dead-url= (help)
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  56. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2018". Nobel Foundation. Retrieved 2018-10-08.

SourcesEdit

External linksEdit