List of Nobel Memorial Prize laureates in Economics

Last updated

The announcement of the 2008 Nobel Memorial Prize in Economic Sciences in Stockholm. The winner of the prize was Paul Krugman. Nobel2008Economics news conference1.jpg
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 an award funded by Sveriges Riksbank and is annually awarded 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]

Contents

As of the awarding of the 2022 prize, 54 Prizes in Economic Sciences have been given to 92 individuals. [5] As of November 2022, the department of economics with the most affiliated laureates in economic sciences is the University of Chicago, [6] [7] with 15 affiliated laureates. As of 2022, the institutions with the most PhD (or equivalent) graduates who went on to receive the prize are Harvard University and MIT (13), followed by the University of Chicago (9). As of 2022, the institutions with the most affiliated faculty at the time of the award are the University of Chicago (15), followed by MIT (8), Princeton University (8) and Harvard University (7).

Laureates

YearPortraitLaureate
(birth/death)
CountryRationalePhD (or equivalent) alma materInstitution (most significant tenure/at time of receipt)Key contributions (non-exhaustive)
1969 Uio frisch 2006 0025.jpg Ragnar Frisch
(1895–1973)
Flag of Norway.svg  Norway      "for having developed and applied dynamic models for the analysis of economic processes" [2] University of OsloUniversity of Oslo Frisch–Waugh–Lovell theorem, Conjectural variation
Jan Tinbergen 1982.jpg Jan Tinbergen
(1903–1994)
Flag of the Netherlands.svg  Netherlands Leiden UniversityErasmus University Econometrics, Policy instruments
1970 Paul Samuelson.gif Paul Samuelson
(1915–2009)
Flag of the United States.svg  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 UniversityMassachusetts Institute of Technology Revealed preference, Samuelson condition, Social Welfare Function, Efficient-market hypothesis, Turnpike theory, Balassa–Samuelson effect, Stolper–Samuelson theorem, Overlapping generations model
1971  Simon Kuznets 1971b.jpg Simon Kuznets
(1901–1985)
Flag of the United States.svg  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 UniversityHarvard University Gross domestic product, Capital formation, Kuznets cycle, Kuznets curve
1972 John Hicks 1972.jpg John Hicks
(1904–1989)
Flag of the United Kingdom.svg  United Kingdom "for their pioneering contributions to general economic equilibrium theory and welfare theory." [10] University of OxfordUniversity of Oxford IS–LM model, Hicksian demand function, substitution effect, income effect, Kaldor–Hicks efficiency
Kenneth Arrow, Stanford University.jpg Kenneth Arrow
(1921–2017)
Flag of the United States.svg  United States Columbia UniversityHarvard University Fundamental theorems of welfare economics, Arrow's impossibility theorem, Arrow–Debreu model, Endogenous growth theory,
1973  Wassily Leontief 1973.jpg Wassily Leontief
(1905–1999)
Flag of the Soviet Union.svg Soviet Union
Flag of the United States.svg  United States
"for the development of the input-output method and for its application to important economic problems" [11] University of BerlinHarvard University Input–output model, Leontief paradox
 1974 Gunnar Myrdal - Sveriges styresman.jpg Gunnar Myrdal
(1898–1987)
Flag of Sweden.svg  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 UniversityStockholm University Circular cumulative causation
Friedrich Hayek portrait.jpg Friedrich Hayek
(1899–1992)
Flag of Austria.svg  Austria
Flag of the United Kingdom.svg  United Kingdom
University of ViennaLondon School of Economics, University of Chicago Austrian business cycle theory, Economic calculation problem, Spontaneous order, Information economics
1975 Leonid Kantorovich 1975.jpg Leonid Kantorovich
(1912–1986)
Flag of the Soviet Union.svg Soviet Union "for their contributions to the theory of optimum allocation of resources" [13] Leningrad State UniversityNovosibirsk State University Linear programming, Kantorovich theorem, Kantorovich inequality, Kantorovich metric
TjallingKoopmans1967.jpg Tjalling Koopmans
(1910–1985)
Flag of the Netherlands.svg  Netherlands
Flag of the United States.svg  United States
University of LeidenUniversity of Chicago, Yale University Linear programming
1976 Portrait of Milton Friedman.jpg Milton Friedman
(1912–2006)
Flag of the United States.svg  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 UniversityUniversity of Chicago Monetarism, Permanent income hypothesis, Natural rate of unemployment, Sequential analysis, Helicopter money, Great Contraction, Friedman rule, Friedman–Savage utility function, Friedman test
1977 Bertil Ohlin.jpg Bertil Ohlin
(1899–1979)
Flag of Sweden.svg  Sweden "for their pathbreaking contribution to the theory of international trade and international capital movements" [15] Stockholm UniversityStockholm School of Economics Heckscher–Ohlin model
James Meade Nobel.jpg James Meade
(1907–1995)
Flag of the United Kingdom.svg  United Kingdom University of CambridgeUniversity of Cambridge Nominal income target
1978 Herbert Simon, RIT NandE Vol13Num11 1981 Mar19 Complete.jpg Herbert A. Simon
(1916–2001)
Flag of the United States.svg  United States "for his pioneering research into the decision-making process within economic organizations" [16] University of ChicagoCarnegie Mellon University Bounded rationality, satisficing, preferential attachment
 1979 Theodore W. Schultz.jpg Theodore Schultz
(1902–1998)
Flag of the United States.svg  United States  "for their pioneering research into economic development research with particular consideration of the problems of developing countries." [17] University of Wisconsin-MadisonUniversity of Chicago Human Capital Theory
No image.svg Arthur Lewis
(1915–1991)
Flag of Saint Lucia (1979-2002).svg  Saint Lucia
Flag of the United Kingdom.svg  United Kingdom
London School of EconomicsPrinceton University Lewis model, Lewis turning point
1980 No image.svg Lawrence Klein
(1920–2013)
Flag of the United States.svg  United States "for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies" [18] Massachusetts Institute of TechnologyUniversity of PennsylvaniaMacroeconomics forecasting
1981 James Tobin.png James Tobin
(1918–2002)
Flag of the United States.svg  United States "for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices" [19] Harvard UniversityYale University Tobin tax, Tobit model, Tobin's q, Baumol–Tobin model
1982 No image.svg George Stigler
(1911–1991)
Flag of the United States.svg  United States "for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation" [20] University of ChicagoUniversity of Chicago Regulatory capture
1983 Debreu, Gerard (1921-2004).jpeg Gérard Debreu
(1921–2004)
Flag of France.svg  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 Arrow–Debreu model, Sonnenschein–Mantel–Debreu theorem
1984 No image.svg Richard Stone
(1913–1991)
Flag of the United Kingdom.svg  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 CambridgeUniversity of Cambridge National accounts
1985 Franco Modigliani.jpg Franco Modigliani
(1918–2003)
Flag of Italy.svg  Italy "for his pioneering analyses of saving and of financial markets" [23] The New School for Social ResearchMassachusetts Institute of Technology Modigliani–Miller theorem, Life-cycle hypothesis
1986 James Buchanan by Atlas network.jpg James M. Buchanan
(1919–2013)
Flag of the United States.svg  United States "for his development of the contractual and constitutional bases for the theory of economic and political decision-making" [24] University of ChicagoGeorge Mason University Constitutional economics
1987 Robert Solow by Olaf Storbeck.jpg Robert Solow
(b. 1924)
Flag of the United States.svg  United States "for his contributions to the theory of economic growth" [25] Harvard UniversityMassachusetts Institute of Technology Solow–Swan model
1988 ALLAIS PN Maurice-24x30-2001b.jpg Maurice Allais
(1911–2010)
Flag of France.svg  France "for his pioneering contributions to the theory of markets and efficient utilization of resources" [26] École PolytechniqueÉcole Nationale Supérieure des Mines de Paris, Paris Nanterre University OLG model, Allais paradox, Golden Rule savings rate
1989 Trygve Haavelmo.jpg Trygve Haavelmo
(1911–1999)
Flag of Norway.svg  Norway "for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures" [27] University of OsloUniversity of Oslo Balanced budget multiplier
1990 No image.svg Harry Markowitz
(1927-2023)
Flag of the United States.svg  United States "for their pioneering work in the theory of financial economics" [28] University of ChicagoCity University of New York Modern portfolio theory, Markowitz model, Efficient frontier
No image.svg Merton Miller
(1923–2000)
Johns Hopkins UniversityCarnegie Mellon University, University of Chicago Modigliani–Miller theorem
William sharpe 2007.jpg William F. Sharpe
(b. 1934)
University of California, Los AngelesStanford University Sharpe Ratio, Binomial options pricing model, Returns-based style analysis
1991 Coase scan 10 edited.jpg Ronald Coase
(1910–2013)
Flag of the United Kingdom.svg  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 EconomicsUniversity of Chicago, London School of Economics Transaction costs, Coase theorem, Coase conjecture
1992 GaryBecker-May24-2008.jpg Gary Becker
(1930–2014)
Flag of the United States.svg  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 ChicagoUniversity of Chicago Human Capital Theory
1993 Robert William Fogel.jpg Robert Fogel
(1926–2013)
Flag of the United States.svg  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 UniversityUniversity of Chicago Cliometrics
Douglass North.jpg Douglass North
(1920–2015)
University of California, BerkeleyWashington University in St Louis
 1994 No image.svg John Harsanyi
(1920–2000)
Flag of Hungary.svg  Hungary
Flag of the United States.svg  United States
"for their pioneering analysis of equilibria in the theory of non-cooperative games." [32] Stanford UniversityUniversity of California, Berkeley Bayesian game, Preference utilitarianism, Equilibrium selection
John f nash 20061102 3.jpg John Forbes Nash
(1928–2015)
Flag of the United States.svg  United States Princeton UniversityPrinceton University Nash equilibrium, Nash embedding theorem, Nash functions, Nash–Moser theorem
Reinhard Selten2.jpg Reinhard Selten
(1930–2016)
Flag of Germany.svg  Germany Goethe University FrankfurtUniversity of Bonn Experimental economics
1995 No image.svg Robert Lucas, Jr.
(1937–2023)
Flag of the United States.svg  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 ChicagoUniversity of Chicago Rational expectations, Lucas critique, Lucas paradox, Lucas aggregate supply function, Uzawa–Lucas model
1996 Sir James Mirrlees.jpg James Mirrlees
(1936–2018)
Flag of the United Kingdom.svg  United Kingdom "for their fundamental contributions to the economic theory of incentives under asymmetric information" [34] University of CambridgeUniversity of Oxford, University of Cambridge Optimal labor income taxation
No image.svg William Vickrey
(1914–1996)
Flag of Canada (Pantone).svg  Canada
Flag of the United States.svg  United States
Columbia UniversityColumbia University Vickrey auction, Revenue equivalence, Congestion pricing
1997 Robert C. Merton.jpg Robert C. Merton
(b. 1944)
Flag of the United States.svg  United States "for a new method to determine the value of derivatives." [35] Massachusetts Institute of TechnologyMassachusetts Institute of Technology Black–Scholes–Merton model, ICAPM, Merton's portfolio problem
Myron Scholes 2008 in Lindau.png Myron Scholes
(b. 1941)
Flag of Canada (Pantone).svg  Canada
Flag of the United States.svg  United States
University of ChicagoStanford University Black–Scholes–Merton model
1998 Amartya Sen 20071128 cologne.jpg Amartya Sen
(b. 1933)
Flag of India.svg  India "for his contributions to welfare economics" [36] University of CambridgeHarvard University, University of Cambridge Human development theory, Capability approach
1999 Rmundell.jpg Robert Mundell
(1932–2021)
Flag of Canada (Pantone).svg  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 TechnologyColumbia University Optimum currency area, Supply-side economics, Mundell–Fleming model, Mundell–Tobin effect
2000 James Heckman.jpg James Heckman
(b. 1944)
Flag of the United States.svg  United States "for his development of theory and methods for analyzing selective samples" [38] Princeton UniversityUniversity of Chicago Heckman correction
Daniel McFadden
(b. 1937)
"for his development of theory and methods for analyzing discrete choice" [38] University of MinnesotaUniversity of California, Berkeley, Massachusetts Institute of Technology Discrete choice models
2001 George Akerlof.jpg George Akerlof
(b. 1940)
Flag of the United States.svg  United States "for their analyses of markets with information asymmetry" [39] Massachusetts Institute of TechnologyGeorgetown University, University of California, Berkeley Adverse selection (The Market for Lemons), Efficiency wage, Identity economics
A Michael Spence.jpg Michael Spence
(b. 1943)
Harvard UniversityHarvard University Signalling theory
Joseph Stiglitz.jpg Joseph Stiglitz
(b. 1943)
Massachusetts Institute of TechnologyPrinceton University, Columbia University Screening theory, Henry George theorem, Shapiro–Stiglitz theory
2002 Daniel Kahneman (3283955327) (cropped).jpg Daniel Kahneman
(b. 1934)
Flag of Israel.svg  Israel
Flag of the United States.svg  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, BerkeleyPrinceton University, University of British Columbia Behavioral economics, Prospect theory, loss aversion, cognitive biases
Vernon L. Smith 2011.jpg Vernon L. Smith
(b. 1927)
Flag of the United States.svg  United States "for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms" [40] Harvard UniversityUniversity of Arizona Experimental economics, Combinatorial auction
2003 Robert F. Engle.jpg Robert F. Engle
(b. 1942)
Flag of the United States.svg  United States "for methods of analyzing economic time series with time-varying volatility (ARCH)" [41] Cornell UniversityUniversity of California, San Diego ARCH
Clive Granger by Olaf Storbeck.jpg Clive Granger
(1934–2009)
Flag of the United Kingdom.svg  United Kingdom "for methods of analyzing economic time series with common trends (cointegration)" [41] University of NottinghamUniversity of California, San Diego Cointegration, Granger causality
2004 Kydland.jpg Finn E. Kydland
(b. 1943)
Flag of Norway.svg  Norway "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles." [42] Carnegie Mellon UniversityUniversity of California, Santa Barbara RBC theory, Dynamic inconsistency in monetary policy
Edward C. Prescott.jpg Edward C. Prescott
(1940-2022)
Flag of the United States.svg  United States Carnegie Mellon UniversityCarnegie Mellon University, Arizona State University, University of Minnesota Hodrick-Prescott filter
2005 ySHrAl Avmn 2010.jpg Robert J. Aumann
(b. 1930)
Flag of the United States.svg  United States
Flag of Israel.svg  Israel
"for having enhanced our understanding of conflict and cooperation through game-theory analysis." [43] Massachusetts Institute of TechnologyHebrew University of Jerusalem Correlated equilibrium, Aumann's agreement theorem
Thomas Schelling.jpg Thomas C. Schelling
(1921–2016)
Flag of the United States.svg  United States Harvard UniversityYale University, Harvard University Schelling point, Egonomics
2006 Edmund Phelps 2008-01-23.jpg Edmund S. Phelps
(b. 1933)
Flag of the United States.svg  United States "for his analysis of intertemporal tradeoffs in macroeconomic policy" [44] Yale UniversityColumbia University Golden Rule savings rate, Natural rate of unemployment, Statistical discrimination
2007 Leonid Hurwicz.jpg Leonid Hurwicz
(1917–2008)
Flag of Poland.svg  Poland
Flag of the United States.svg  United States
"for having laid the foundations of mechanism design theory" [45] London School of EconomicsUniversity of Minnesota, Iowa State University Mechanism design
Eric Maskin at UCI.jpg Eric S. Maskin
(b. 1950)
Flag of the United States.svg  United States Harvard UniversityHarvard University
Myerson roger b print.jpg Roger Myerson
(b. 1951)
Harvard UniversityNorthwestern University
2008 Paul Krugman-press conference Dec 07th, 2008-8.jpg Paul Krugman
(b. 1953)
Flag of the United States.svg  United States "for his analysis of trade patterns and location of economic activity" [46] Massachusetts Institute of TechnologyPrinceton University New trade theory, New Economic Geography, Home market effect
2009 Nobel Prize 2009-Press Conference KVA-30.jpg Elinor Ostrom
(1933–2012)
Flag of the United States.svg  United States "for her analysis of economic governance, especially the commons" [47] University of California, Los AngelesIndiana University Institutional Analysis and Development framework
Nobel Prize 2009-Press Conference KVA-42.jpg Oliver E. Williamson
(1932–2020)
"for his analysis of economic governance, especially the boundaries of the firm" [47] Carnegie Mellon UniversityUniversity of Pennsylvania, University of California, Berkeley New institutional economics
2010 Peter Diamond cropped.jpg Peter A. Diamond
(b. 1940)
Flag of the United States.svg  United States "for their analysis of markets with search frictions" [48] Massachusetts Institute of TechnologyMassachusetts Institute of Technology Diamond–Mirrlees efficiency theorem, Diamond coconut model
Dale Mortensen.jpg Dale T. Mortensen
(1939–2014)
Carnegie Mellon UniversityNorthwestern University Matching theory
Christopher Pissarides.jpg Christopher A. Pissarides
(b. 1948)
Flag of Cyprus.svg  Cyprus
Flag of the United Kingdom.svg  United Kingdom
London School of EconomicsLondon School of Economics Matching theory
2011 Nobel Prize 2011-Press Conference KVA-DSC 7770.jpg Thomas J. Sargent
(b. 1943)
Flag of the United States.svg  United States "for their empirical research on cause and effect in the macroeconomy" [49] Harvard UniversityHoover Institution, University of Minnesota Policy-ineffectiveness proposition
Nobel Prize 2011-Press Conference KVA-DSC 7720.jpg Christopher A. Sims
(b. 1942)
Harvard UniversityPrinceton University Vector Autoregression in macroeconomics, Fiscal theory of the price level, Rational inattention
2012 Al Roth, Sydney Ideas lecture 2012d.jpg Alvin E. Roth
(b. 1951)
Flag of the United States.svg  United States "for the theory of stable allocations and the practice of market design." [50] Stanford UniversityStanford University, Harvard University Stable marriage problem, Repugnancy costs
Shapley, Lloyd (1980) crop.jpg Lloyd S. Shapley
(1923–2016)
Princeton UniversityUniversity of California, Los Angeles Shapley value, stochastic game, Potential game, Shapley–Shubik power index, Bondareva–Shapley theorem, Gale–Shapley algorithm, Shapley–Folkman lemma
2013 Eugene Fama at Nobel Prize, 2013.jpg Eugene F. Fama
(b. 1939)
Flag of the United States.svg  United States "for their empirical analysis of asset prices." [51] University of ChicagoUniversity of Chicago Fama–French three-factor model, Weak, semi-strong, and strong efficient-market hypothesis
Nobel Prize laureate Lars Peter Hansen at press conference 2013 2 (cropped).jpg Lars Peter Hansen
(b. 1952)
University of MinnesotaUniversity of Chicago Generalized method of moments
Robert J. Shiller 2017.jpg Robert J. Shiller
(b. 1946)
Massachusetts Institute of TechnologyYale University Case–Shiller index, CAPE Index
2014 Jean Tirole (cropped).jpg Jean Tirole
(b. 1953)
Flag of France.svg  France "for his analysis of market power and regulation". [52] Massachusetts Institute of TechnologyMassachusetts Institute of Technology
Toulouse School of Economics
École des hautes études en sciences sociales
Markov perfect equilibrium, Two-sided market
2015 Angus Deaton 0182.jpg Angus Deaton
(b. 1945)
Flag of the United Kingdom.svg  United Kingdom
Flag of the United States.svg  United States
"for his analysis of consumption, poverty, and welfare". [53] University of CambridgePrinceton University Almost ideal demand system, Pseudo panels, Household surveys in developing countries
2016 Nobel Laureates 0983 (31117127490).jpg Oliver Hart
(b. 1948)
Flag of the United Kingdom.svg  United Kingdom
Flag of the United States.svg  United States
"for their contributions to contract theory". [54] Princeton UniversityHarvard University Moral Hazard, Incomplete contracts
Bengt Holmstrom.jpg Bengt Holmström
(b. 1949)
Flag of Finland.svg  Finland Stanford UniversityMassachusetts Institute of TechnologyInformativeness Principle
2017 Richard Thaler Chatham.jpg Richard Thaler
(b. 1945)
Flag of the United States.svg  United States "for his contributions to behavioural economics". [55] University of RochesterCornell University, University of Chicago Nudge Theory, Mental Accounting, Choice Architecture
2018 William Nordhaus EM1B6043 (46234132921).jpg William Nordhaus
(b. 1941)
Flag of the United States.svg  United States     "for integrating climate change into long-run macroeconomic analysis" [56] Massachusetts Institute of TechnologyYale University DICE model
Paul Romer in 2005.jpg Paul Romer
(b. 1955)
"for integrating technological innovations into long-run macroeconomic analysis"University of ChicagoNew York UniversityIncorporation of R&D to the Endogenous growth theory
2019 FT Goldman Sachs Business Book of the Year Award 2011 (6310827426) (cropped).jpg Abhijit Banerjee
(b. 1961)
Flag of the United States.svg  United States "for their experimental approach to alleviating global poverty" [57] Harvard UniversityMassachusetts Institute of TechnologyUse of RCTs in development economics
Nobel 9 Dec 2019 Esther Duflo.jpg Esther Duflo
(b. 1972)
Flag of France.svg  France
Flag of the United States.svg  United States
Massachusetts Institute of TechnologyMassachusetts Institute of Technology
Kremer bio (cropped).jpg Michael Kremer
(b. 1964)
Flag of the United States.svg  United States Harvard UniversityHarvard University
2020 Paul Milgrom Headshot.jpg Paul Milgrom
(b. 1948)
Flag of the United States.svg  United States "for improvements to auction theory and inventions of new auction formats." [58] Stanford UniversityStanford UniversitySimultaneous multiple round auctions (SMRA), No-trade theorem, Market design, Reputation effects (game theory), supermodular games, monotone comparative statics, Linkage principle, Deferred-acceptance auction
No image.svg Robert B. Wilson
(b. 1937)
Flag of the United States.svg  United States Harvard UniversityStanford UniversitySimultaneous multiple round auctions (SMRA), Common value auction, Reputation effects (game theory), Wilson doctrine
2021 David Card - Nobel prize interview screenshot (cropped, portrait).png David Card
(b. 1956)
Flag of the United States.svg  United States
Flag of Canada (Pantone).svg  Canada
"for his empirical contributions to labour economics" [59] Princeton UniversityUniversity of California, Berkeley Natural experiments on labour economics (incl. Difference in differences)
Joshua Angrist - 2011 (cropped).jpg Joshua Angrist
(b. 1960)
Flag of the United States.svg  United States
Flag of Israel.svg  Israel
"for their methodological contributions to the analysis of causal relationships" [59] Princeton UniversityMassachusetts Institute of Technology Local average treatment effect, natural experiments to estimate causal links
Guido Imbens Lemley Lecture 1.jpg Guido Imbens
(b. 1963)
Flag of the United States.svg  United States
Flag of the Netherlands.svg  Netherlands
Brown UniversityStanford University
2022 Ben Bernanke official portrait.jpg Ben Bernanke
(b. 1953)
Flag of the United States.svg  United States "for research on banks and financial crises" [60] Massachusetts Institute of TechnologyPrinceton University, Brookings InstitutionAnalysis of the Great Depression
Douglas Diamond.jpg Douglas Diamond
(b. 1953)
Yale UniversityUniversity of Chicago Diamond–Dybvig model
Philip H. Dybvig
(b. 1955)
Yale UniversityWashington University in St. Louis

See also

Related Research Articles

<span class="mw-page-title-main">Nobel Prize</span> Prizes established by Alfred Nobel in 1895

The Nobel Prizes are five separate prizes that, according to Alfred Nobel's will of 1895, are awarded to "those who, during the preceding year, have conferred the greatest benefit to humankind." Alfred Nobel was a Swedish chemist, engineer, and industrialist most famously known for the invention of dynamite. He died in 1896. In his will, he bequeathed all of his "remaining realisable assets" to be used to establish five prizes which became known as "Nobel Prizes." Nobel Prizes were first awarded in 1901.

<span class="mw-page-title-main">Ragnar Frisch</span> Norwegian economist (1895–1973)

Ragnar Anton Kittil Frisch was an influential Norwegian economist known for being one of the major contributors to establishing economics as a quantitative and statistically informed science in the early 20th century. He coined the term econometrics in 1926 for utilising statistical methods to describe economic systems, as well as the terms microeconomics and macroeconomics in 1933, for describing individual and aggregate economic systems, respectively. He was the first to develop a statistically informed model of business cycles in 1933. Later work on the model together with Jan Tinbergen won the two the first Nobel Memorial Prize in Economic Sciences in 1969.

<span class="mw-page-title-main">Right Livelihood Award</span> Award for solutions to challenges facing the world

The Right Livelihood Award is an international award to "honour and support those offering practical and exemplary answers to the most urgent challenges facing us today." The prize was established in 1980 by German-Swedish philanthropist Jakob von Uexkull, and is presented annually in early December. An international jury, invited by the five regular Right Livelihood Award board members, decides the awards in such fields as environmental protection, human rights, sustainable development, health, education, and peace. The prize money is shared among the winners, usually numbering four, and is €200,000. Very often one of the four laureates receives an honorary award, which means that the other three share the prize money.

The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles. Milton Friedman and George Stigler are considered the leading scholars of the Chicago school.

The MIT Department of Economics is a department of the Massachusetts Institute of Technology in Cambridge, Massachusetts.

<span class="mw-page-title-main">Nobel Memorial Prize in Economic Sciences</span> Award established in 1968 by Sveriges Riksbank in memory of Alfred Nobel

The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is an economics award administered by the Nobel Foundation.

<span class="mw-page-title-main">Committee for the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel</span> Prize committee

The Committee for the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel is the prize committee for the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, and fills the same role as the Nobel Committees do for the Nobel Prizes. This means that the committee is responsible for proposing laureates for the prize. The Committee for the Prize in Economic Sciences in Memory of Alfred Nobel is appointed by the Royal Swedish Academy of Sciences. It usually consists of Swedish professors of economics or related subjects who are members of the academy, although the academy in principle could appoint anyone to the committee. Two of the members of the founding committee as well as later members of the committee had also been associated with the Mont Pelerin Society.

<span class="mw-page-title-main">Douglas Diamond</span> American economist

Douglas Warren Diamond is an American economist. He is currently the Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, where he has taught since 1979. Diamond specializes in the study of financial intermediaries, financial crises, and liquidity. He is a former president of the American Finance Association (2003) and the Western Finance Association (2001-02).

<span class="mw-page-title-main">Guido Imbens</span> Dutch-American econometrician

Guido Wilhelmus Imbens is a Dutch-American economist whose research concerns econometrics and statistics. He holds the Applied Econometrics Professorship in Economics at the Stanford Graduate School of Business at Stanford University, where he has taught since 2012.

<span class="mw-page-title-main">Princeton University Department of Economics</span>

The Princeton University Department of Economics is an academic department of Princeton University, an Ivy League institution in Princeton, New Jersey. The department is one of the most premier institutions for the study of economics. It offers undergraduate A.B. degrees as well as graduate Ph.D. degrees. It is considered one of the "big five" schools in the field along with the faculties at the University of Chicago, Harvard University, Stanford University, and MIT. According to the 2018 U.S. News & World Report, the department ranks as joint No. 1 in the field of economics.

The 2021 Nobel Memorial Prize in Economic Sciences was divided one half awarded to the American-Canadian David Card "for his empirical contributions to labour economics", the other half jointly to Israeli-American Joshua Angrist and Dutch-American Guido W. Imbens "for their methodological contributions to the analysis of causal relationships." The Nobel Committee stated their reason behind the decision, saying:

"This year's Laureates – David Card, Joshua Angrist and Guido Imbens – have shown that natural experiments can be used to answer central questions for society, such as how minimum wages and immigration affect the labour market. They have also clarified exactly which conclusions about cause and effect can be drawn using this research approach. Together, they have revolutionised empirical research in the economic sciences."

<span class="mw-page-title-main">2022 Nobel Memorial Prize in Economic Sciences</span> Award

The 2022 Nobel Memorial Prize in Economic Sciences was divided equally between the American economists Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig "for research on banks and financial crises" on 10 October 2022. The award was established in 1968 by an endowment "in perpetuity" from Sweden's central bank, Sveriges Riksbank, to commemorate the bank's 300th anniversary. Laureates in the Memorial Prize in Economics are selected by the Royal Swedish Academy of Sciences. The Nobel Committee announced the reason behind their recognition, stating:

"This year’s laureates in the Economic Sciences, Ben Bernanke, Douglas Diamond and Philip Dybvig, have significantly improved our understanding of the role of banks in the economy, particularly during financial crises. An important finding in their research is why avoiding bank collapses is vital."

References

Citations

  1. "Nomination and Selection of the Laureates in Economics". Nobel Foundation. Archived from the original on 2008-07-15. Retrieved 2008-10-15.
  2. 1 2 "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.
  3. "The Nobel Prize". Nobel Foundation. Archived from the original on 2008-10-15. 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. Archived from the original on 2013-06-01. Retrieved 2020-10-14.
  6. "All prizes in economic sciences". NobelPrize.org. Retrieved 2022-11-18.
  7. "ShanghaiRanking-Univiersities". www.shanghairanking.com. Retrieved 2022-11-18.
  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.
  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.
  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.
  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.
  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.
  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.
  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.
  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.
  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.
  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.
  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.
  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.
  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.
  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.
  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.
  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.
  24. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1986". Nobel Foundation. Archived from the original on 2008-10-12. Retrieved 2008-10-14.
  25. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1987". Nobel Foundation. Archived from the original on 2008-10-28. Retrieved 2008-10-14.
  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.
  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.
  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.
  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.
  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.
  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.
  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.
  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.
  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.
  35. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1997". Nobel Foundation. Archived from the original on 2008-10-21. Retrieved 2008-10-14.
  36. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1998". Nobel Foundation. Archived from the original on 2014-10-11. Retrieved 2008-10-14.
  37. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1999". Nobel Foundation. Archived from the original on 2008-10-19. Retrieved 2008-10-14.
  38. 1 2 "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2000". Nobel Foundation. Archived from the original on 2008-10-19. Retrieved 2008-10-14.
  39. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2001". Nobel Foundation. Archived from the original on 2008-10-17. Retrieved 2008-10-14.
  40. 1 2 "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2002". Nobel Foundation. Archived from the original on 2008-10-17. Retrieved 2008-10-14.
  41. 1 2 "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2003". Nobel Foundation. Archived from the original on 2008-10-17. Retrieved 2008-10-14.
  42. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2004". Nobel Foundation. Archived from the original on 2008-10-19. Retrieved 2008-10-14.
  43. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2005". Nobel Foundation. Archived from the original on 2008-10-17. Retrieved 2008-10-14.
  44. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2006". Nobel Foundation. Archived from the original on 2008-10-17. Retrieved 2008-10-14.
  45. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2007". Nobel Foundation. Archived from the original on 2008-10-16. Retrieved 2008-10-14.
  46. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2008". Nobel Foundation. Archived from the original on 2008-10-14. Retrieved 2008-10-14.
  47. 1 2 "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2009". Nobel Foundation. Archived from the original on 2009-10-15. Retrieved 2009-10-12.
  48. "The Prize in Economic Sciences  2010". Nobel Foundation. Archived from the original on 2010-10-08. Retrieved 2010-10-11.
  49. "The Prize in Economic Sciences  2011". Nobel Foundation. Archived from the original on 2011-10-06. Retrieved 2011-10-10.
  50. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2012". Nobel Foundation. Archived from the original on 2013-05-17. Retrieved 2016-07-01.
  51. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2013". Nobel Foundation. Archived from the original on 2017-06-02. Retrieved 2016-07-01.
  52. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2014". Nobel Foundation. Retrieved 2014-10-13.
  53. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2015". Nobel Foundation. Archived from the original on 2015-10-05. Retrieved 2015-10-12.
  54. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2016". Nobel Foundation. Archived from the original on 2016-10-10. Retrieved 2016-10-10.
  55. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2017". Nobel Foundation. Archived from the original on 2017-10-02. Retrieved 2015-10-09.
  56. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2018". Nobel Foundation. Retrieved 2018-10-08.
  57. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2019". Nobel Foundation. Retrieved 2021-10-07.
  58. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2020". Nobel Foundation. Retrieved 2020-10-14.
  59. 1 2 "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021". Nobel Foundation. Retrieved 2021-10-11.
  60. "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2022". Nobel Foundation. Retrieved 2022-10-10.

Sources