LIST OF NOBEL LAUREATES IN ECONOMICS

List of Nobel Memorial Prize laureates in Economics

Collected by Dr.Debesh Bhowmik 

 

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 economics. Although not one of the original five Nobel Prizes established by the 1895 will of Alfred Nobel, it is consistently identified with them. The award was established and funded in 1968 by the Sveriges Riksbank, the central bank of Sweden, on the 300th anniversary of the bank, and has been awarded annually since. The first award was given in 1969 to Ragnar Frisch and Jan Tinbergen. Each recipient receives a medal, a diploma and a monetary award that has varied throughout the years. 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.

As of late 2013, 45 Nobel Memorial Prizes in Economic Sciences have been given to 74 individuals. Seven awards have been given for contributions to the field of macroeconomics, more than any other category. The institution with the most affiliated Nobel laureates in Economics is the University of Chicago, which has 28 affiliated laureates.

Laureates

Year	Laureate		Country	Rationale
1969		Ragnar Frisch	Norway	"for having developed and applied dynamic models for the analysis of economic processes"
		Jan Tinbergen	Netherlands
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"
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"
1972		John Hicks	United Kingdom	"for their pioneering contributions to general economic equilibrium theory and welfare theory."
		Kenneth Arrow	United States
1973		Wassily Leontief	Soviet Union	"for the development of the input-output method and for its application to important economic problems"
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."
		Friedrich Hayek	United Kingdom / Austria
1975		Leonid Kantorovich	Soviet Union	"for their contributions to the theory of optimum allocation of resources"
		Tjalling Koopmans	United States / Netherlands
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"
1977		Bertil Ohlin	Sweden	"for their pathbreaking contribution to the theory of international trade and international capital movements"
		James Meade	United Kingdom
1978		Herbert A. Simon	United States	"for his pioneering research into the decision-making process within economic organizations"
1979		Theodore Schultz	United States	"for their pioneering research into economic development research with particular consideration of the problems of developing countries."
		Arthur Lewis	United Kingdom
1980		Lawrence Klein	United States	"for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies"
1981		James Tobin	United States	"for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices"
1982		George Stigler	United States	"for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation"
1983		Gérard Debreu	France	"for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium"
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"
1985		Franco Modigliani	Italy	"for his pioneering analyses of saving and of financial markets"
1986		James M. Buchanan	United States	"for his development of the contractual and constitutional bases for the theory of economic and political decision-making"
1987		Robert Solow	United States	"for his contributions to the theory of economic growth"
1988		Maurice Allais	France	"for his pioneering contributions to the theory of markets and efficient utilization of resources"
1989		Trygve Haavelmo	Norway	"for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures"
1990		Harry Markowitz	United States	"for their pioneering work in the theory of financial economics"
		Merton Miller	United States
		William Forsyth Sharpe	United States
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"
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"
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"
		Douglass North	United States
1994		John Harsanyi	United States	"for their pioneering analysis of equilibria in the theory of non-cooperative games."
		John Forbes Nash	United States
		Reinhard Selten	Germany
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"
1996		James Mirrlees	United Kingdom	"for their fundamental contributions to the economic theory of incentives under asymmetric information"
		William Vickrey	United States / Canada
1997		Robert C. Merton	United States	"for a new method to determine the value of derivatives."
		Myron Scholes	Canada / United States
1998		Amartya Sen	India	"for his contributions to welfare economics"
1999		Robert Mundell	Canada	"for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas"
2000		James Heckman	United States	"for his development of theory and methods for analyzing selective samples"
		Daniel McFadden	United States	"for his development of theory and methods for analyzing discrete choice"
2001		George Akerlof	United States	"for their analyses of markets with asymmetric information"
		Michael Spence	United States
		Joseph E. Stiglitz	United States
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"
		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"
2003		Robert F. Engle	United States	"for methods of analyzing economic time series with time-varying volatility (ARCH)"
		Clive Granger	United Kingdom	"for methods of analyzing economic time series with common trends (cointegration)"
2004		Finn E. Kydland	Norway	"for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles."
		Edward C. Prescott	United States
2005		Robert Aumann	Israel / United States	"for having enhanced our understanding of conflict and cooperation through game-theory analysis."
		Thomas Schelling	United States
2006		Edmund Phelps	United States	"for his analysis of intertemporal tradeoffs in macroeconomic policy"
2007		Leonid Hurwicz	Poland / United States	"for having laid the foundations of mechanism design theory"
		Eric Maskin	United States
		Roger Myerson	United States
2008		Paul Krugman	United States	"for his analysis of trade patterns and location of economic activity"
2009		Elinor Ostrom	United States	"for her analysis of economic governance, especially the commons"
		Oliver Williamson	United States	"for his analysis of economic governance, especially the boundaries of the firm"
2010		Peter A. Diamond	United States	"for their analysis of markets with search frictions"
		Dale T. Mortensen	United States
		Christopher A. Pissarides	Cyprus
2011		Thomas J. Sargent	United States	"for their empirical research on cause and effect in the macroeconomy"
		Christopher A. Sims	United States
2012		Alvin E. Roth	United States	"for the theory of stable allocations and the practice of market design."
		Lloyd S. Shapley	United States
2013		Eugene Fama	United States	"for their empirical analysis of asset prices."
		Lars Peter Hansen	United States
		Robert J. Shiller	United States