The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel^[1] (Swedish: Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), commonly called the Nobel Prize in Economics, or more acurately the Nobel Memorial Prize in Economic Sciences, is a prize awarded each year for outstanding intellectual contributions in the field of economics. The award was instituted by the Bank of Sweden (the world's oldest central bank) at its 300th anniversary in 1968. Prize is awarded by the Royal Swedish Academy of Sciences in accordance with the same principles as those for the other five Nobel Prizes.^[2] Although it was not one of the awards established in the will of Alfred Nobel, the economics laureates receive their diploma and gold medal from the Swedish monarch at the same December 10 ceremony in Stockholm as the Nobel laureates in physics, chemistry, physiology or medicine, and literature. (The Nobel Peace Prize is awarded in Oslo, Norway.) The amount of money awarded to the economics laureates is also equal to that of the other prizes. Face-to-face trading interactions among on the New York Stock Exchange trading floor Economics, as a social science, studies human choice behavior and how it effects the production, distribution, and consumption of scarce resources. ... Sveriges Riksbank (Swedish National Bank) is the central bank of Sweden, sometimes called just the Bank of Sweden. ... The Royal Swedish Academy of Sciences or , founded in 1739 by King Frederick I, is one of the Royal Academies in Sweden. ... Nobel Prize medal. ... In the common law, a will or testament is a document by which a person (the testator) regulates the rights of others over his property or family after death. ... Alfred Bernhard Nobel}} (October 21, 1833, Stockholm, Sweden – December 10, 1896, Sanremo, Italy) was a Swedish chemist, engineer, innovator, armaments manufacturer and the inventor of dynamite. ... Sweden is a constitutional monarchy with a representative democracy based on a parliamentary system. ... December 10 is the 344th day (345th in leap years) of the year in the Gregorian calendar. ...   (IPA: ; UN/LOCODE: SE STO) is the capital of Sweden, and consequently the site of its Government and Parliament as well as the residence of the Swedish head of state, King Carl XVI Gustaf. ... Winners of the Nobel Prize are scientists, writers and peacemakers who have been awarded in their field of endeavour, and who are known collectively as either Nobel laureates or Nobel Prize winners. ... Hannes Alfvén (1908–1995) accepting the Nobel Prize for his work on magnetohydrodynamics [1]. List of Nobel Prize laureates in Physics from 1901 to the present day. ... This is a list of Nobel Prize laureates in Chemistry from 1901 to the present day. ... List of Nobel Prize laureates in Physiology or Medicine from 1901 to the present day. ... Nobel Prize in Literature medal. ... Lester B. Pearson after accepting the Nobel Peace Prize The Nobel Peace Prize is the name of one of five Nobel Prizes bequested by the Swedish industrialist and inventor Alfred Nobel. ...

Award process

The economics laureates, as with the laureates in chemistry and physics, are chosen by the Royal Swedish Academy of Sciences. Nominations of about one hundred living persons are made each year by qualified nominators and are received by a five to eight member committee, which then submits its choice of winners to the Nobel Assembly for its final approval. As with the other prizes, no more than three people can share the prize for a given year and they must be living at the time the prize is awarded. The final award is made in Stockholm and is accompanied by a prize (as of 2006, 10 million Kronor; roughly 1 million euros). This is a list of Nobel Prize laureates in Chemistry from 1901 to the present day. ... Hannes Alfvén (1908–1995) accepting the Nobel Prize for his work on magnetohydrodynamics [1]. List of Nobel Prize laureates in Physics from 1901 to the present day. ... The Royal Swedish Academy of Sciences or , founded in 1739 by King Frederick I, is one of the Royal Academies in Sweden. ... For other uses, see Life (disambiguation) and Living (disambiguation). ... ISO 4217 Code SEK User(s) Sweden Inflation rate 1. ...

In February 1995, it was decided that the economics prize be essentially defined as a prize in social sciences, opening the Nobel Prize to great contributions in fields like political science, psychology, and sociology. Also, the Economics Prize Committee was changed to require two non-economists to decide the prize each year, whereas previously the prize committee had consisted of five economists. Paul Samuelson, Nobel Prize in Economics winner. ...

Controversy

The prestige of the prize derives in part from its association with the awards created by Alfred Nobel's will, an association which has often been a source of controversy. Among the most vocal critics of the economics prize is Peter Nobel who is a peripheral member of the Nobel family – his paternal grandfather's grandmother was one of the daughters of Alfred Nobel's elder brother, Ludvig. Ludvig Nobel Ludvig Nobel (1831-1888) was Alfred Nobels second oldest brother. ...

Winners

1960s

Ragnar Anton Kittil Frisch (March 3, 1895 – January 31, 1973) was a Norwegian economist. ... Jan Tinbergen Jan Tinbergen (The Hague, April 12, 1903 – June 9, 1994 The Hague), Dutch economist, was awarded the first Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 1969, which he shared with Ragnar Frisch for having developed and applied dynamic models for the analysis...

1970s

Paul Anthony Samuelson Paul A. Samuelson (born May 15, 1915, in Gary, Indiana) is an American economist known for his work in many fields of economics. ... 1971 (MCMLXXI) was a common year starting on Friday (the link is to a full 1971 calendar). ... Simon Kuznets Simon Smith Kuznets (April 30, 1901 – July 8/9, 1985) was an economist who won the 1971 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic... 1972 (MCMLXXII) was a leap year starting on Saturday. ... Sir John Richard Hicks (April 8, 1904 – May 20, 1989) was one of the most important and influential economists of the twentieth century. ... Kenneth Arrow Kenneth Joseph Arrow (born August 23, 1921) is an American economist, winner of the Bank of Sweden Prize in Economic Sciences in 1972. ... 1973 (MCMLXXIII) was a common year starting on Monday. ... Wassily Leontief (August 5, 1906 – February 5, 1999), born at Munich, Germany),[1] was an economist notable for his research on how changes in one economic sector may have an effect on other sectors. ... 1974 (MCMLXXIV) was a common year starting on Tuesday. ... Gunnar Myrdal (December 6, 1898 – May 17, 1987) was a Swedish economist and politician. ... Friedrich Hayek Friedrich August von Hayek (May 8, 1899 in Vienna – March 23, 1992 in Freiburg) was an Austrian economist and political philosopher, noted for his defense of liberal democracy and free-market capitalism against socialist and collectivist thought in the mid-20th century. ... 1975 (MCMLXXV) was a common year starting on Wednesday. ... Leonid V. Kantorovich. ... Tjalling Charles Koopmans (August 28, 1910 – February 26, 1985) was the joint winner, with Leonid Kantorovich, of the 1975 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. ... 1976 (MCMLXXVI) was a leap year starting on Thursday. ... Milton Friedman Milton Friedman (born July 31, 1912) is an American economist, known for his work on macroeconomics, microeconomics, economic history, statistics, and for his advocacy of laissez-faire capitalism. ... For the album by Ash, see 1977 (album). ... Bertil Ohlin (April 23, 1899 – August 3, 1979), was a Swedish economist and winner of the 1977 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. ... James Edward Meade (June 23, 1907, Swanage, Dorset – December 22, 1995, Cambridge) was an English economist and winner of the 1977 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel jointly with the Norwegian Bertil Ohlin for their Pathbreaking contribution to the theory of international trade and... 1978 (MCMLXXVIII) was a common year starting on Sunday. ... Herbert Alexander Simon (June 15, 1916 – February 9, 2001) was a researcher in the fields of cognitive psychology, computer science, public administration, economics and philosophy (sometimes described as a polymath). ... This page refers to the year 1979. ... Theodore Schultz, the 1979 winner (jointly with Arthur Lewis) of the Bank of Sweden Prize in the Economic Sciences (also known as the Nobel Prize in Economics) was born 1902 in the United States. ... Sir William Arthur Lewis (January 23, 1915 – June 15, 1991) was a British economist well known for his contributions in the field of economic development. ...

1980s

Lawrence Robert Klein (born September 14, 1920) is an American economist. ... 1981 (MCMLXXXI) was a common year starting on Thursday of the Gregorian calendar. ... For the convicted Republican political operative, see James Tobin (political operative). ... 1982 (MCMLXXXII) was a common year starting on Friday of the Gregorian calendar. ... George Joseph Stigler (1911 - 1991) was a U.S. economist. ... 1983 (MCMLXXXIII) was a common year starting on Saturday of the Gregorian calendar. ... Gerard Debreu was a naturalized US citizen from France Gerard Debreu (July 4, 1921 – December 31, 2004) was a French economist and mathematician (In July 1975, he became a naturalized citizen of the United States). ... 1984 (MCMLXXXIV) was a leap year starting on Sunday of the Gregorian calendar. ... Sir John Richard Nicholas Stone (August 30, 1913 – December 6, 1991) was an eminent British economist who in 1984 received the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for developing an accounting model that could be used to track economic activities on a national and... 1985 (MCMLXXXV) was a common year starting on Tuesday of the Gregorian calendar. ... Franco Modigliani (June 18, 1918 – September 25, 2003) was an Italian-American economist at the MIT Sloan School of Management, and winner of the Nobel Memorial Prize in Economics in 1985. ... 1986 (MCMLXXXVI) was a common year starting on Wednesday of the Gregorian calendar. ... For the president of this name, see James Buchanan. ... 1987 (MCMLXXXVII) was a common year starting on Thursday of the Gregorian calendar. ... Robert Merton Solow (born August 23, 1924) is an American economist particularly known for his work on the theory of economic growth. ... 1988 (MCMLXXXVIII) was a leap year starting on Friday of the Gregorian calendar. ... Maurice Allais (born May 31, 1911) was the 1988 winner of The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for his pioneering contributions to the theory of markets and efficient utilization of resources. ... 1989 (MCMLXXXIX) was a common year starting on Sunday of the Gregorian calendar. ... Trygve Magnus Haavelmo (13 December 1911 – 26 July 1999), born in Skedsmo, Norway, was an influential economist with main research interests centered on the fields of econometrics and economics theory. ...

1990s

Harry Max Markowitz (born August 24, 1927) is an influential economist at City University of New York and winner of the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 1990. ... Merton Howard Miller (May 16, 1923 - June 3, 2000) won the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 1990, along with Harry Markowitz and William Sharpe. ... William Forsyth Sharpe (born June 16, 1934) is Professor of Finance, Emeritus at Stanford Universitys Graduate School of Business and the winner of the 1990 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. ... 1991 (MCMXCI) was a common year starting on Tuesday of the Gregorian calendar. ... Ronald Coase (born December 29, 1910) is a British economist. ... 1992 (MCMXCII) was a leap year starting on Wednesday. ... Gary Stanley Becker (born December 2, 1930) is an American economist. ... 1993 (MCMXCIII) was a common year starting on Friday of the Gregorian calendar and marked the Beginning of the International Decade to Combat Racism and Racial Discrimination (1993-2003). ... Robert William Fogel (born July 1, 1926) is an American economic historian and scientist, and Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel winner in 1993 (with Douglass North). ... Douglass Cecil North (born November 5, 1920) is co-recipient of the 1993 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. ... 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated as the International Year of the Family and the International Year of the Sport and the Olympic Ideal by United Nations. ... John Charles Harsanyi (May 29, 1920 – August 9, 2000) was a Hungarian-American business and economics professor who contributed to the study of game theory in mathematics by developing the analysis of games of incomplete information. ... John Forbes Nash, Jr. ... Reinhard Selten (born October 5, 1930) is a German economist. ... 1995 (MCMXCV) was a common year starting on Sunday of the Gregorian calendar. ... Robert Emerson Lucas, Jr. ... 1996 (MCMXCVI) was a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ... James Alexander Mirrlees (born July 5, 1936, Minnigaff, Scotland) is a Scottish economist and winner of the 1996 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. ... William Vickrey (June 21, 1914, Victoria, British Columbia - October 11, 1996, New York State) was a Columbia University professor, who was awarded the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. ... 1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ... Robert C. Merton (born July 31, 1944), a leading scholar in the field of finance, was one of three men who, in the early 1970s, developed the mathematics of the stock options markets. ... Myron S. Scholes (born July 1, 1941) is one of the authors of the famous Black-Scholes equation. ... 1998 (MCMXCVIII) was a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ... Amartya Sen Dr. Amartya Kumar Sen CH (Hon) (Bengali: Ômorto Kumar Shen) (born 3 November 1933 in Santiniketan, India), is an economist and a winner of the Bank of Sweden Prize in Economic Sciences (sometimes referred to informally as the Nobel Prize for Economics) in 1998, for his work on... 1999 (MCMXCIX) was a common year starting on Friday, and was designated the International Year of Older Persons by the United Nations. ... Robert Alexander Mundell (born October 24, 1932) is a Canadian economist who graduated from the University of British Columbia in Vancouver. ...

2000s

James Heckman (born April 19, 1944) is an economist at the University of Chicago. ... Daniel L. McFadden (born July 29, 1937) is an econometrician who won (jointly with James Heckman) the 2000 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for his development of theory and methods for analyzing discrete choice. He is currently the E. Morris Cox Professor of... 2001: A Space Odyssey. ... George Arthur Akerlof (born June 17, 1940) is an American economist and Koshland Professor of Economics at the University of California, Berkeley. ... Michael Spence is a winner of Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, along with George A. Akerlof and Joseph E. Stiglitz, for their work on the dynamics of information flows and market development. ... Joseph E. Stiglitz Joseph Stiglitz (born February 9, 1943) is an American economist. ... For album titles with the same name, see 2002 (album). ... Daniel Kahneman Daniel Kahneman (born March 5, 1934 in Tel Aviv, in the then British Mandate of Palestine, now in Israel), is a key pioneer and theorist of behavioral finance, which integrates economics and cognitive science to explain seemingly irrational risk management behavior in human beings. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... Robert F. Engle (born 1942) received the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 2003, sharing the award with Clive Granger, for methods of analyzing economic time series with time-varying volatility (ARCH). He got his Ph. ... Sir Clive Granger (born 1934) is an USA. Along with Robert Engle of New York University he shared the 2003 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Finn E. Kydland (born 1943) is a Norwegian economist. ... Prescott Photo Edward C. Prescott, born 26 December 1940 in Glens Falls, New York, received the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 2004, sharing the award with Finn E. Kydland, for their contributions to dynamic macroeconomics: the time consistency of economic policy and... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... Israel Robert John Aumann (born June 8, 1930, Frankfurt am Main, Germany) is an Israeli mathematician and a member of the United States National Academy of Sciences. ... For the German philosopher see Friedrich Wilhelm Joseph von Schelling. ... Game theory is a branch of applied mathematics and economics that studies situations where players choose different actions in an attempt to maximize their returns. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... Edmund Strother Phelps (born July 26, 1933 in Evanston, Illinois) is an American professor of economics at Columbia University, who was awarded the 2006 The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, commonly known as the Nobel Prize in Economics. ...

Footnotes

External links

• Laureates at the Nobel foundation
• Winners of the Prize in Economics
• History of the prize and its controversy