Winners of the Nobel Prize for Economics The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was established in 1968 by the Bank of Sweden, and it was first awarded in 1969, more than 60 years after the distribution of the first Nobel Prizes. Although not technically a Nobel Prize, the Prize in Economic Sciences is identified with the award; its winners are announced with the Nobel Prize recipients, and it is presented at the Nobel Prize Award Ceremony. It is conferred by the Royal Swedish Academy of Sciences in Stockholm. The table provides a list of winners of the Nobel Prize for Economics. Nobel Prize winners by category (economics)* year name country** achievement Ragnar Frisch Norway work in econometrics 1969 Jan Tinbergen Netherlands work in econometrics 1970 Paul Samuelson USS. ‘work in scientific analysis of economic theory 1971 Simon Kuznets us. extensive research on the economic growth of nations contributions to general economic equilibrium theory and welfare Kenneth J. Arrow U.S, 1972 Sir John. Hicks U.K. theory contributions to general economic equilibrium theory and welfare theory 1973 Wassily Leontief USS. input-output analysis pioneering analysis of the interdependence of economic, social, and Friedrich von Hayek U.K, 1974 institutional phenomena oncering analysis of the interdependence of economic, social, and. Gunnar Myrdal Sweden sen ° institutional phenomena Leonid Vitalyevich ULS.S.R. contributions to the theory of optimum allocation of resources, Kantorovich yew 1975 Tialling C. US. contributions to the theory of optimum allocation of resources Koopmans *Officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, itis technically not a Nobel Prize, although itis identified with the award, "Nationality given is the citizenship of the recipient at the time the award was made. Prizes may be withheld or not awarded in years when no worthy recipient can be found or when the world situation (e.g,, World Wars T and 11) prevents the gathering of information needed to reach a decision,year name country** achievement 1976 Milton Friedman US. consumption analysis, monetary theory, and economic stabilization James Edward Meade UK. contributions to the theory of international trade 1077 etl Obin Sweden contributions to the theory of international trade Herbert Alexander 1978 non us. decision-making processes in economic organizations Sir Arthur Lewis UK. analyses of economic processes in developing nations 1979 Theodore William Sehuttr us. analyses of economic processes in developing nations ogo E&wTenceRobert development and analysis of empirical models of business, Klein fluctuations 1981 James Tobin us. portfolio selection theory of investment 1982 George J.Stigler US. economic effects of governmental regulation 1983. Gerard Debrew US, mathematical proof of supply-and-demand theory 1984 Sir Richard Stone UK. development of a national income accounting system 1985 Franco Modigliani U.S. analyses of household savings and financial markets 1986 James M. Buchanan USS. public-choice theory bridging economics and political science 1987 Robert Merton Solow U.S. contributions to the theory of economic growth 1988 Maurice Allais France contributions to the theory of markets and efficient use of resources, 1989 Trygve Haavelmo Norway __ development of statistical techniques for economic forecasting Harry M. Markowitz U.S, study of financial markets and investment decision-making 1990 Merton H. Miller US. study of financial markets and investment decision-making, William F. Sharpe USS. study of financial markets and investment decision-making 1991 Ronald Coase us. application of economic principles to the study of law 1992. Gary S. Becker us. application of economic theory to social sciences, Robert William Fogel U.S. contributions to economic history 1993 Douglass C. North US. contributions to economic history 1994 John C.Harsanyi USS. development of game theory John F. Nash. us. development of game theory *Officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, itis technically not a Nobel Prize, although itis identified with the award, “Nationality given is the citizenship of the recipient at the time the award was made. Prizes may be withheld or not awarded in years when no worthy recipient can be found or when the world situation (e.g., World Wars I and ID) prevents the gathering of information needed to reach a decision.year name country** achievement Reinhard Selten Germany _development of game theory 1995 Robert E, Lucas, Jn. US. incorporation of rational expectations in macroeconomic theory contributions to the theory of incentives under conditions of James A. Mirrlees UX. asymmetric information 1996 contributions to the theory of incentives under conditions of William Vickrey US, asymmettic information method for determining the value of stock options and other Robert C. Merton U.S, 1997 ‘Myron. Scholes U.S. derivatives method for determining the value of stock options and other derivatives 1998 Amartya Sen India contributions to welfare economies analysis of optimum currency areas and of policy under different 1999 Robert A. Mundell Canada exchange-rate regimes development of methods of statistical analysis of individual and household behaviour James J. Heckman USS. 2000 development of methods of statistical analysis of individual and Daniel L. McFadden U.S. household behaviour George A. Akerlof U.S, analysis of markets with asymmetric information 2001 A. Michael Spence U.S. analysis of markets with asymmetric information Joseph E. Stiglitz USS. analysis of markets with asymmetric information, integration of ps arch into economic s chological re Daniel Kahneman —_U.S./Israel_ especially concerning human judgment and decision-making under 2002 uncertainty establishment of laboratory experiments as a tool in empirical Vernon L. Smith US. economic analysis, Robert F. Engle US, development of techniques for the analysis of time series data 2003, Clive WJ. Granger U.K. development of techniques for the analysis of time series data Finn E.Kydland Norway contributions to dynamic macroeconomics 2004 Edward C. Prescott U.S. contributions to dynamic macroeconomics “Officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, it is technically not a Nobel Prize, although it is identified with the award. “Nationality given is the citizenship of the recipient at the time the award was made. Prizes may be withheld or ‘not awarded in years when no worthy recipient can be found or when the world situation (e.g., World Wars I and I) prevents the gathering of information needed to reach a decision,year name country** achievement Robert J. Aumann Israel contributions to game-theory analysis 2005 Thomas C. Schelling U.S. contributions to game-theory analysis 2006 Edmund S. Phelps USS. analysis of intertemporal trade-offs in macroeconomic policy Leonid Hurwiez US. work that laid the foundations of mechanism design theory 2007 us. work that laid the foundations of mechanism design theory Roger B. Myerson U.S, work that laid the foundations of mechanism design theory 2008 Paul Krugman US, analysis of trade pattems and location of economic activity Elinor Ostrom US. analysis of economic governance, especially the commons 2009 analysis of economic governance, especially the boundaries of the Oliver E, Williamson U.S, firm Peter A. Diamond U.S. analysis of markets with search frictions DaleT. Mortensen US. analysis of markets with search frictions 2010 Christopher A. . Cyprus/U.K. analysis of markets with search frictions Pissarides Thomas J. Sargent U.S. empirical research on cause and effect in the mactoeconomy 7011 acistopher A. Sims US. empirical research on cause and effect in the macroeconomy jpg AWN E: Roth us. work on market design and matching theory 7012 oyd'8. Shapley US ‘work on market design and matching theory Eugene. Fama US, empirical analysis of asset prices 2013 Lars P. Hansen us. empirical analysis of asset prices Robert J. Shiller U.S. empirical analysis of asset prices 2014 Jean Tirole France analysis of market power and regulation 2015 Angus. Deaton UK. analysis of consumption, poverty, and welfare Oliver Hart UK. contributions to contract theory 701 cnet Holmstrim Finland contributions to contract theory 2017 Richard H. Thaler U.S, contributions to behavioral economics 2018 William D. Nordhaus U.S. integration of climate change into long-run macroeconomic analysis “Officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, itis technically not a Nobel Prize, although it is identified with the award. **Nationality given is the citizenship of the recipient atthe time the award was made. Prizes may be withheld or ‘not awarded in years when no worthy recipient can be found or when the world situation (e.g., World Wars I and 11) prevents the gathering of information needed to reach a decision,year name country** achievement integration of technological innovations into long-run Paul M- Romer us macroeconomic analysis Abhijit Banerjee US. experimental approach to alleviating global poverty 2019 Esther Duflo France/U.S. experimental approach to alleviating global poverty Michael Kremer US. experimental approach to alleviating global poverty al Milgom us. improvements to auction theory and inventions of new auction formats 2020 improvements to auction theory and inventions of new auction Robert B. Wilson U.S. formats Joshua Angrist ULSJIstael methodological contributions to the analysis of causal relationships 2021 David Card Canada/U.S. empirical contributions to labour economies Guido Imbens Neth/U.S. methodological contributions to the analysis of causal relationships Ben Bemanke US. research on banks and financial crises 2022 Douglas Diamond USS. research on banks and financial crises Philip Dybvig US. research on banks and financial crises 2023 Claudia Goldin us. research on women’s labour market outcomes *Officially lled the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, itis technically not a Nobel Prize, although itis identified with the award, “Nationality given is the citizenship of the recipient at the time the award was made. Prizes may be withheld or not awarded in years when no worthy recipient can be found or when the world situation (e.g,, World Wars I and 11) prevents the gathering of information needed to reach a decision. This article was most recently revised and updated by Amy Tikkanen. Citation Information Article Title: Winners of the Nobel Prize for Economies ‘Website Name: Encyclopaedia Britannica Publisher: Ene lopaedia Britannica, Inc Date Published: 09 October 2023 URL: https:/www:britannica.comhittps:/wwwbritannica.com/money topie/Winners-of-the-Nobel-Prize-for-Economics- 1856936 Access Date: January 15, 2024