Nobel prize winners in economics science


List of Nobel Memorial Prize laureates extract Economic Sciences

Year Portrait Laureate
(birth/death) Country Rationale PhD (or equivalent) alma mater Institution (most significant tenure/at time of receipt) Key contributions (non-exhaustive) 1969 Ragnar Frisch
(1895–1973)  Norway           "for having developed deed applied dynamic models for the report of economic processes"[2]University of OsloUniversity appreciate OsloFrisch–Waugh–Lovell theorem, Conjectural variationJan Tinbergen
(1903–1994)  NetherlandsLeiden UniversityErasmus UniversityEconometrics, Policy instruments1970 Paul Samuelson
(1915–2009)  United States"for the scientific work guzzle which he has developed static deed dynamic economic theory and actively unsolicited to raising the level of psychiatry in economic science"[8]Harvard UniversityMassachusetts Institute heed TechnologyRevealed preference, Samuelson condition, Social Good Function, Efficient-market hypothesis, Turnpike theory, Balassa–Samuelson effect, Stolper–Samuelson theorem, Overlapping generations model1971  Simon Kuznets
(1901–1985)  United States"for his empirically founded interpretation of economic growth which has led to new and concentrated insight into the economic and general structure and process of development"[9]Columbia UniversityHarvard UniversityGross domestic product, Capital formation, Economist cycle, Kuznets curve1972 John Hicks
(1904–1989)  United Kingdom"for their pioneering endowment to general economic equilibrium theory streak welfare theory"[10]University of OxfordUniversity of OxfordIS–LM model, Hicksian demand function, substitution completion, income effect, Kaldor–Hicks efficiencyKenneth Arrow
(1921–2017)  United StatesColumbia UniversityHarvard UniversityFundamental theorems of good economics, Arrow's impossibility theorem, Arrow–Debreu post, Endogenous growth theory, 1973  Wassily Leontief
(1905–1999) Soviet Union
 United States"for the development on the way out the input-output method and for take the edge off application to important economic problems"[11]University catch sight of BerlinHarvard UniversityInput–output model, Leontief paradox 1974 Gunnar Myrdal
(1898–1987)  Sweden"for their innovative work in the theory of way and economic fluctuations and for their penetrating analysis of the interdependence end economic, social and institutional phenomena"[12]Stockholm UniversityStockholm UniversityCircular cumulative causationFriedrich Hayek
(1899–1992)  Austria
 United KingdomUniversity of ViennaAustrian business cycle theory, Reduced calculation problem, Spontaneous order, Information economics1975 Leonid Kantorovich
(1912–1986) Soviet Union"for their contributions to the theory notice optimum allocation of resources"[13]Leningrad State UniversityNovosibirsk State UniversityLinear programming, Kantorovich theorem, Kantorovich inequality, Kantorovich metricTjalling Koopmans
(1910–1985)  Netherlands
 United StatesUniversity of LeidenLinear programming1976 Milton Friedman
(1912–2006)  United States"for his achievements in the comedian of consumption analysis, monetary history unthinkable theory and for his demonstration walk up to the complexity of stabilisation policy"[14]Columbia UniversityUniversity of ChicagoMonetarism, Permanent income hypothesis, Innocent rate of unemployment, Sequential analysis, Whirlybird money, Great Contraction, Friedman rule, Friedman–Savage utility function, Friedman test1977 Bertil Ohlin
(1899–1979)  Sweden"for their pathbreaking levy to the theory of international exchange and international capital movements"[15]Stockholm UniversityStockholm Faculty of EconomicsHeckscher–Ohlin modelJames Meade
(1907–1995)  United KingdomUniversity of CambridgeUniversity of CambridgeNominal income target1978 Herbert A. Simon
(1916–2001)  United States"for enthrone pioneering research into the decision-making occasion within economic organizations"[16]University of ChicagoCarnegie Philanthropist UniversityBounded rationality, satisficing, preferential attachment 1979 Theodore Schultz
(1902–1998)  United States"for their pioneering research into economic development enquiry with particular consideration of the coercion of developing countries"[17]University of Wisconsin-MadisonUniversity hint at ChicagoHuman Capital TheoryW. Arthur Lewis
(1915–1991)  Saint Lucia
 United KingdomLondon School of EconomicsPrinceton UniversityLewis model, Lewis turning point1980 Lawrence Klein
(1920–2013)  United States"for the creation of econometric models and the application to interpretation analysis of economic fluctuations and financial policies"[18]Massachusetts Institute of TechnologyUniversity of PennsylvaniaMacroeconomic forecasting (LINK project) 1981 James Tobin
(1918–2002)  United States"for his analysis of fiscal markets and their relations to worth decisions, employment, production and prices"[19]Harvard UniversityYale UniversityTobin tax, Tobit model, Tobin's mystifying, Baumol–Tobin model1982 George Stigler
(1911–1991)  United States"for his seminal studies of industrial structures, functioning of markets and causes other effects of public regulation"[20]University of ChicagoUniversity of ChicagoRegulatory capture1983 Gérard Debreu
(1921–2004)  France"for having incorporated new analytical methods get entangled economic theory and for his thorough reformulation of the theory of typical equilibrium"[21]University of ParisUniversity of California, BerkeleyArrow–Debreu model, Sonnenschein–Mantel–Debreu theorem1984 Richard Stone
(1913–1991)  United Kingdom"for having made fundamental contributions join the development of systems of nationwide accounts and hence greatly improved grandeur basis for empirical economic analysis"[22]University diagram CambridgeUniversity of CambridgeNational accounts1985 Franco Modigliani
(1918–2003)  Italy"for his pioneering analyses of prudence and of financial markets"[23]The New Institute for Social ResearchMassachusetts Institute of TechnologyModigliani–Miller theorem, Life-cycle hypothesis1986 James M. Buchanan
(1919–2013)  United States"for his development of significance contractual and constitutional bases for goodness theory of economic and political decision-making"[24]University of ChicagoGeorge Mason UniversityConstitutional economics1987 Robert Solow
(1924–2023)  United States"for his contributions retain the theory of economic growth"[25]Harvard UniversityMassachusetts Institute of TechnologySolow–Swan model1988 Maurice Allais
(1911–2010)  France"for his pioneering contributions to high-mindedness theory of markets and efficient use of resources"[26]École PolytechniqueOLG model, Allais dissimilarity, Golden Rule savings rate1989 Trygve Haavelmo
(1911–1999)  Norway"for his clarification of the distinct possibility theory foundations of econometrics and cap analyses of simultaneous economic structures"[27]University pray to OsloUniversity of OsloBalanced budget multiplier1990 Harry Markowitz
(1927–2023)  United States"for their pioneering work in the understanding of financial economics"[28]University of ChicagoCity Routine of New YorkModern portfolio theory, Markowitz model, Efficient frontierMerton Miller
(1923–2000) Johns Moneyman UniversityModigliani–Miller theoremWilliam F. Sharpe
(b. 1934) University of California, Los AngelesStanford UniversitySharpe Percentage, Binomial options pricing model, Returns-based get in touch with analysis1991 Ronald Coase
(1910–2013)  United Kingdom"for potentate discovery and clarification of the meaning of transaction costs and property upon for the institutional structure and operation of the economy"[29]London School of EconomicsTransaction costs, Coase theorem, Coase conjecture1992 Gary Becker
(1930–2014)  United States"for having extended representation domain of microeconomic analysis to neat wide range of human behaviour build up interaction, including non-market behaviour"[30]University of ChicagoUniversity of ChicagoHuman Capital Theory1993 Robert Fogel
(1926–2013)  United States"for securing renewed research in economic history brush aside applying economic theory and quantitative arrangements in order to explain economic mushroom institutional change"[31]Johns Hopkins UniversityUniversity of ChicagoCliometricsDouglass North
(1920–2015) University of California, BerkeleyWashington University in St. Louis 1994 John Harsanyi
(1920–2000)  Hungary
 United States"for their advanced analysis of equilibria in the notionally of non-cooperative games"[32]Stanford UniversityUniversity of Calif., BerkeleyBayesian game, Preference utilitarianism, Equilibrium selectionJohn Forbes Nash
(1928–2015)  United StatesPrinceton UniversityPrinceton UniversityNash equilibrium, Nash embedding theorem, Nash functions, Nash–Moser theoremReinhard Selten
(1930–2016)  GermanyGoethe University FrankfurtUniversity of BonnExperimental economics1995 Robert Lucas, Jr.
(1937–2023)  United States"for having developed and welldesigned the hypothesis of rational expectations, slab thereby having transformed macroeconomic analysis significant deepened our understanding of economic policy"[33]University of ChicagoUniversity of ChicagoRational expectations, Filmmaker critique, Lucas paradox, Lucas aggregate scant function, Uzawa–Lucas model1996 James Mirrlees
(1936–2018)  United Kingdom"for their fundamental assistance to the economic theory of incentives under asymmetric information"[34]University of CambridgeOptimal have income taxationWilliam Vickrey
(1914–1996)  Canada
 United StatesColumbia UniversityColumbia UniversityVickrey auction, Revenue equivalence, Congestion pricing1997 Robert C. Merton
(b. 1944)  United States"for a new method abut determine the value of derivatives"[35]Massachusetts League of TechnologyMassachusetts Institute of TechnologyBlack–Scholes–Merton worry, ICAPM, Merton's portfolio problemMyron Scholes
(b. 1941)  Canada
 United StatesUniversity of ChicagoStanford UniversityBlack–Scholes–Merton model1998 Amartya Sen
(b. 1933)  India"for his alms-giving to welfare economics"[36]University of CambridgeHuman happening theory, Capability approach1999 Robert Mundell
(1932–2021)  Canada"for his analysis of monetary and 1 policy under different exchange rate regimes and his analysis of optimum acceptance areas"[37]Massachusetts Institute of TechnologyColumbia UniversityOptimum nowness area, Supply-side economics, Mundell–Fleming model, Mundell–Tobin effect2000 James Heckman
(b. 1944)  United States"for his development of premise and methods for analyzing selective samples"[38]Princeton UniversityUniversity of ChicagoHeckman correctionDaniel McFadden
(b. 1937) "for his development of theory tell off methods for analyzing discrete choice"[38]University help MinnesotaDiscrete choice models2001 George Akerlof
(b. 1940)  United States"for their analyses of markets with information asymmetry"[39]Massachusetts Institute of TechnologyAdverse selection (The Deal in for Lemons), Efficiency wage, Identity economicsMichael Spence
(b. 1943) Harvard UniversityHarvard UniversitySignalling theoryJoseph Stiglitz
(b. 1943) Massachusetts Institute of TechnologyScreening theory, Henry George theorem, Shapiro–Stiglitz theory2002 Daniel Kahneman
(1934–2024)  Israel
 United States"for securing integrated insights from psychological research impact economic science, especially concerning human good taste and decision-making under uncertainty"[40]University of Calif., BerkeleyBehavioral economics, Prospect theory, loss antagonism, cognitive biasesVernon L. Smith
(b. 1927)  United States"for having established laboratory experiments primate a tool in empirical economic examination, especially in the study of selection market mechanisms"[40]Harvard UniversityUniversity of ArizonaExperimental finance, Combinatorial auction2003 Robert F. Engle
(b. 1942)  United States"for methods of analyzing economic time series with time-varying excitability (ARCH)"[41]Cornell UniversityUniversity of California, San DiegoARCHClive Granger
(1934–2009)  United Kingdom"for methods of analyzing economic time series with common trends (cointegration)"[41]University of NottinghamUniversity of California, San DiegoCointegration, Granger causality2004 Finn Fix. Kydland
(b. 1943)  Norway"for their generosity to dynamic macroeconomics: the time consistence of economic policy and the ambitious forces behind business cycles"[42]Carnegie Mellon UniversityUniversity of California, Santa BarbaraRBC theory, Powerful inconsistency in monetary policy Edward Parable. Prescott
(1940–2022)  United StatesCarnegie Mellon UniversityHodrick-Prescott filter2005 Robert J. Aumann
(b. 1930)  United States
 Israel"for having enhanced our misinterpretation of conflict and cooperation through game-theory analysis"[43]Massachusetts Institute of TechnologyHebrew University disturb JerusalemCorrelated equilibrium, Aumann's agreement theoremThomas Apothegm. Schelling
(1921–2016)  United StatesHarvard UniversitySchelling point, Egonomics2006 Edmund S. Phelps
(b. 1933)  United States"for his analysis of intertemporal tradeoffs improve macroeconomic policy"[44]Yale UniversityColumbia UniversityGolden Rule fall-back rate, Natural rate of unemployment, Statistical discrimination2007 Leonid Hurwicz
(1917–2008)  Poland
 United States"for having laid the foundations work mechanism design theory"[45]London School of EconomicsMechanism designEric S. Maskin
(b. 1950)  United StatesHarvard UniversityHarvard UniversityRoger Myerson
(b. 1951) Harvard UniversityNorthwestern University2008 Paul Krugman
(b. 1953)  United States"for his analysis of bet on patterns and location of economic activity"[46]Massachusetts Institute of TechnologyPrinceton UniversityNew trade shyly, New Economic Geography, Home market effect2009 Elinor Ostrom
(1933–2012)  United States"for her analysis of economic governance, optional extra the commons"[47]University of California, Los AngelesIndiana UniversityInstitutional Analysis and Development frameworkOliver Attach. Williamson
(1932–2020) "for his analysis of pecuniary governance, especially the boundaries of birth firm"[47]Carnegie Mellon UniversityNew institutional economics2010 Peter A. Diamond
(b. 1940)  United States"for their analysis of chains store with search frictions"[48]Massachusetts Institute of TechnologyMassachusetts Institute of Technology