Nobel Prize Laureates in Economics

Note: the Nobel prize in Economic Sciences was first awarded in 1969.

Economic Sciences 1969

The prize was awarded jointly to:
FRISCH, RAGNAR, Norway, Oslo University, and
TINBERGEN, JAN, The Netherlands, The Netherlands School of Economics, Rotterdam:
"for having developed and applied dynamic models for the analysis of economic processes".

Economic Sciences 1970

SAMUELSON, PAUL A, U.S.A., Massachusetts Institute of Technology, Cambridge (MIT), MA:
"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".

Economic Sciences 1971

KUZNETS, SIMON, U.S.A., Harvard University, Cambridge, MA:
"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".

Economic Sciences 1972

The prize was awarded jointly to:
HICKS, Sir JOHN R., Great Britain, All Souls College, Oxford; and
ARROW, KENNETH J., U.S.A., Harvard University, Cambridge, MA:
"for their pioneering contributions to general economic equilibrium theory and welfare theory".

Economic Sciences 1973

LEONTIEF, WASSILY, U.S.A., Harvard University, Cambridge, MA:
"for the development of the input-output method and for its application to important economic problems".

Economic Sciences 1974

The prize was divided equally between:
MYRDAL, GUNNAR, Sweden; and
VON HAYEK, FRIEDRICH AUGUST, Great Britain:
"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".

Economic Sciences 1975

The prize was awarded jointly to:
KANTOROVICH, LEONID VITALIYEVICH, USSR, Academy of Sciences, Moscow; and
KOOPMANS, TJALLING C., U.S.A., Yale University, New Haven, CT:
"for their contributions to the theory of optimum allocation of resources".

Economic Sciences 1976

FRIEDMAN, MILTON, U.S.A., University of Chicago, Chicago, IL:
"for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy".

Economic Sciences 1977

The prize was divided equally between:
OHLIN, BERTIL, Sweden, Stockholm School of Economics, Stockholm; and
MEADE, JAMES E, Great Britain, Cambridge University, Cambridge:

"for their pathbreaking contribution to the theory of international trade and international capital movements".

Economic Sciences 1978

SIMON, HERBERT A., U.S.A., Carnegie-Mellon University, Pittsburgh, PA:
"for his pioneering research into the decision-making process within economic organizations".

Economic Sciences 1979

The prize was divided equally between:
SCHULTZ, THEODORE W., U.S.A., University of Chicago, Chicago, IL; and
LEWIS, Sir ARTHUR, United Kingdom,, Princeton University, Princeton, NJ, U.S.A.:
"for their pioneering research into economic development research with particular consideration of the problems of developing countries".

Economic Sciences 1980

KLEIN, LAWRENCE R., U.S.A., University of Pennsylvania, Philadelphia, PA:
"for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies".

Economic Sciences 1981

TOBIN, JAMES, U.S.A., Yale University, New Haven, CT:
"for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices".

Economic Sciences 1982

STIGLER, GEORGE J., U.S.A., University of Chicago, Chicago, IL:
"for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation".

Economic Sciences 1983

DEBREU, GERARD, U.S.A., University of California, Berkeley, CA:
"for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium".

Economic Sciences 1984

STONE, Sir RICHARD, Great Britain, University of Cambridge, Cambridge:
"for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis".

Economic Sciences 1985

MODIGLIANI, FRANCO, U.S.A., Massachusetts Institute of Technology, (MIT), Cambridge, MA:
"for his pioneering analyses of saving and of financial markets".

Economic Sciences 1986

BUCHANAN, Jr., JAMES M., U.S.A., Center for Study of Public Choice, Fairfax, VA:
"for his development of the contractual and constitutional bases for the theory of economic and political decision-making".

Economic Sciences 1987

SOLOW, ROBERT M., U.S.A., Massachusetts Institute of Technology, (MIT), MA:
"for his contributions to the theory of economic growth".

Economic Sciences 1988

ALLAIS, MAURICE, France, ?cole Nationale Sup?rieur des Mines de Paris, Paris:
"for his pioneering contributions to the theory of markets and efficient utilization of resources".

Economic Sciences 1989

HAAVELMO, TRYGVE, Norway, University of Oslo:
"for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures".

Economic Sciences 1990

The prize was awarded with one third each to:
MARKOWITZ, HARRY M., U.S.A., City University of New York, NY;
MILLER, MERTON M., U.S.A., University of Chicago, IL; and
SHARPE, WILLIAM F., U.S.A., Stanford University, CA:
"for their pioneering work in the theory of financial economics".

Economic Sciences 1991

COASE, RONALD H., U.S.A., University of Chicago, IL, U.S.A.:
"for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy".

Economic Sciences 1992

BECKER, GARY S., U.S.A., University of Chicago, IL, U.S.A.:
"for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including nonmarket behaviour".

Economic Sciences 1993

The prize was awarded jointly to:
FOGEL, ROBERT W., U.S.A., University of Chicago, IL; and
NORTH, DOUGLASS C., U.S.A., Washington University, St. Louis, MO:
"for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change".

Economic Sciences 1994

The prize was awarded jointly to:
HARSANYI, JOHN C., U.S.A., University of California, Berkeley, CA;
NASH, JOHN F., U.S.A., Princeton University, NJ; and
SELTEN, REINHARD, Germany, Rheinische Friedrich-Wilhelms-Universit?t, Bonn, Germany:
"for their pioneering analysis of equilibria in the theory of non-cooperative games".

Economic Sciences 1995

The price was awarded to:
Professor LUCAS, ROBERT E. Jr., U.S.A., University of Chicago, Chicago, IL, U.S.A.:
"for having developed and applied the hypothesis of rational expectations, and theirby having transformed macroeconomic analysis and deepened out understanding of economic policy".

Economic Sciences 1996

The prize was awarded jointly to:
Mirrlees, James A., Great Britain, Cambridge University; and
William Vickrey, U.S.A., Columbia University:
"for their fundamental contributions to the economic theory of incentives under asymmetric information."

Economic Sciences 1997

The prize was awarded jointly to:
Robert C. Merton, U.S.A., Harvard University; and
Myron S. Scholes, U.S.A., Stanford University
"for developing a pioneering formula for the valuation of stock options".

Economic Sciences 1998

The price was awarded to:
Amartya Sen, Great Britain, Cambridge University
"for analyzing the causes of famine and other welfare economics issues."

Economic Sciences 1999

The price was awarded to:
Robert A. Mundell, U.S.A., Columbia University
"for his analysis of monetary and fiscal policy under different exchange-rate regimes."

Economic Sciences 2000

The price was awarded to:
James Heckman, U.S.A., University of Chicago
"for his development of theory and methods for analyzing selective samples."
Daniel McFadden, U.S.A., University of California-Berkeley
"for his development of theory and methods for analyzing discrete choice."

Economic Sciences 2001

The price was awarded to:
George A. Akerlof, U.S.A., University of California-Berkeley
A. Michael Spence, U.S.A., Stanford University
and Joseph E. Stiglitz, U.S.A., Columbia University
"for their analyses of markets with asymmetric information."

Economic Sciences 2002

The price was awarded to:
Daniel Kahneman, U.S.A. and Israel, Princeton University, "for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty"
Vernon Smith, U.S.A., George Mason University, "for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms"

Economic Sciences 2003

The price was awarded to:
Robert F. Engle III, U.S.A., New York University, "for methods of analyzing economic time series with time-varying volatility (ARCH)"
Clive W.J. Granger, United Kingdom, University of California San Diego, "for methods of analyzing economic time series with common trends (cointegration)"

Economic Sciences 2004

The price was awarded to:
Finn E. Kydland, Norway, Carnegie Mellon University Pittsburgh, PA, USA; University of California Santa Barbara, CA, USA,
Edward C. Prescott, U.S.A., Arizona State University Tempe, AZ, USA; Federal Reserve Bank of Minneapolis Minneapolis, MN, USA,
"for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles"

Economic Sciences 2005

The price was awarded to:
Robert J. Aumann, Israel and U.S.A., Center for Rationality, Hebrew University of Jerusalem Jerusalem, Israel
Thomas C. Schelling, U.S.A., Department of Economics and School of Public Policy, University of Maryland College Park, MD, USA
"for having enhanced our understanding of conflict and cooperation through game-theory analysis"