Nobel Memorial Prize in Economic Sciences

Laureates

Year Name Nationality Citations
1969 Ragnar Frisch Jan Tinbergen nor ned “for having developed and applied dynamic models for the analysis of economic processes.”
1970 Paul Samuelson usa “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 usa “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 Kenneth Arrow uk usa “for their pioneering contributions to general economic equilibrium theory and welfare theory.”
1973 Wassily Leontief usa “for the development of the input-output method and for its application to important economic problems.”
1974 Gunnar Myrdal Friedrich Hayek swe aut “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.”
1975 Leonid Kantorovich Tjalling Koopmans ussr usa “for their contributions to the theory of optimum allocation of resources.”
1976 Milton Friedman usa “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 James Meade swe gbr “for their pathbreaking contribution to the theory of international trade and international capital movements.”
1978 Herbert Simon usa “for his pioneering research into the decision-making process within economic organizations.”
1979 Theodore Schultz Arthur Lewis usa lca “for their pioneering research into economic development research with particular consideration of the problems of developing countries.”
1980 Lawrence Klein usa “for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies.”
1981 James Tobin usa “for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices.”
1982 George Stigler usa “for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation.”
1983 Gerard Debreu usa “for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium.”
1984 Richard Stone uk “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 ita / usa
1986 James M. Buchanan usa “for his development of the contractual and constitutional bases for the theory of economic and political decision-making.”
1987 Robert Solow usa “for his contributions to the theory of economic growth.”
1988 Maurice Allais fra “for his pioneering contributions to the theory of markets and efficient utilization of resources.”
1989 Trygve Haavelmo nor “for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures.”
1990 Harry Markowitz Merton Miller William Forsyth Sharpe usa “for their pioneering work in the theory of financial economics.”
1991 Ronald Coase gbr “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 usa “for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including non-market behaviour.”
1993 Robert Fogel Douglass North usa “for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change.”
1994 John Harsanyi John Forbes Nash Reinhard Selten usa usa ger “for their pioneering analysis of equilibria in the theory of non-cooperative games.”
1995 Robert Lucas, Jr. usa “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 William Vickrey gbr usa “for their fundamental contributions to the economic theory of incentives under asymmetric information.”
1997 Robert C. Merton Myron Scholes usa “for a new method to determine the value of derivatives.”
1998 Amartya Sen ind “for his contributions to welfare economics.”
1999 Robert Mundell can “for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas.”
2000 James Heckman usa “for his development of theory and methods for analyzing selective samples.”
2000 Daniel McFadden usa “for his development of theory and methods for analyzing discrete choice.”
2001 George Akerlof Michael Spence Joseph E. Stiglitz usa “for their analyses of markets with asymmetric information.”
2002 Daniel Kahneman usa / isr “for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty.”
2002 Vernon L. Smith usa “for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms.”
2003 Robert F. Engle usa “for methods of analyzing economic time series with time-varying volatility (ARCH).”
2003 Clive Granger gbr “for methods of analyzing economic time series with common trends (cointegration).”
2004 Finn E. Kydland Edward C. Prescott nor usa “for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles.”
2005 Robert Aumann (????? ????) Thomas Schelling isr / usa usa “for having enhanced our understanding of conflict and cooperation through game-theory analysis.”
2006 Edmund Phelps usa “for his analysis of intertemporal tradeoffs in macroeconomic policy.”
2007 Leonid Hurwicz Eric Maskin Roger Myerson usa “for having laid the foundations of mechanism design theory.”