Nobel Memorial Prize in Economic Sciences

The Nobel Memorial Prize in Economic Sciences, officially named The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (Swedish: Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an award for outstanding contributions in the field of economics and is generally considered one of the most prestigious awards in that field.[1] It is commonly referred to as the Nobel Prize in Economics[2] and it is identified with the Nobel Prizes, although it is not one of the five Nobel Prizes (in Physics, Chemistry, Physiology or Medicine, Literature, and Peace) which were established by the will of Alfred Nobel in 1895.[1][3][4][5][6] The Prize in Economics, as it is frequently referred to by the Nobel Foundation, is a prize established and funded by the Bank of Sweden, in memory of Alfred Nobel. It was instituted in 1968 on the 300th anniversary of Sveriges Riksbank (the central bank of Sweden, sometimes called the Bank of Sweden or the Swedish National Bank).[1][7][8][9] It was first awarded in 1969 to the Dutch and Norwegian economists Jan Tinbergen and Ragnar Frisch, "for having developed and applied dynamic models for the analysis of economic processes."[9][10][11] Like the Nobel Laureates in Chemistry and Physics, Laureates in Economics are selected by the Royal Swedish Academy of Sciences.[12][13]

Contents

Funding of the Prize

An endowment "in perpetuity" from Sveriges Riksbank covers the Nobel Foundation's administrative expenses associated with the prize and funds the monetary component of the award.[12] Since 2001, the monetary portion of the Prize in Economics has been 10 million Swedish kronor (in January 2008, approx. US$1.6 million; 1.1 million Euro), equivalent to the amount given for the Nobel Prizes.[14][15][16] Since 2006, Sveriges Riksbank has given the Nobel Foundation an annual grant of 6.5 million Swedish kronor (in January 2008, approx. US$1 million; 0.7 million Euro) for its administrative expenses associated with the prize as well as 1 million Swedish kronor (until the end of 2008) to include information about the prize on the Nobel Foundation's internet museum.[17]

Relation to the Nobel Prize

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel is not a Nobel Prize.[4] However, the nomination process, selection criteria, and awards presentation are conducted in a manner similar to the Nobel Prizes.[12][15][18] The Prize in Economic Sciences is awarded by the Royal Swedish Academy of Sciences "in accordance with the rules governing the award of the Nobel Prizes instituted through his [Alfred Nobel's] will",[12] which stipulates that the prize is awarded annually to "those who ... shall have conferred the greatest benefit on mankind".[3]

Award nomination and selection process

Announcement of the Nobel Memorial Prize in Economic Sciences 2008

According to its official website, the Royal Swedish Academy of Sciences "administers a researcher exchange with academies in other countries and publishes six scientific journals. Every year the Academy awards the Nobel Prizes in Physics and Chemistry, the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, the Crafoord Prize and a number of other large prizes".[13]

Each September the Academy's Economics Prize Committee, which consists of five elected members, "sends invitations to thousands of scientists, members of academies and university professors in numerous countries, asking them to nominate candidates for the Prize in Economics for the coming year. Members of the Academy and former laureates are also authorised to nominate candidates."[13][12][19] All proposals and their supporting evidence must be received before February 1.[19] The proposals are reviewed by the Prize Committee and specially appointed experts. Before the end of September, the committee chooses potential laureates. If there is a tie, the chairman of the committee casts the deciding vote. Next, the potential laureates must be approved by the Royal Swedish Academy of Sciences. Members of the Ninth Class (the social sciences division) of the Academy vote in mid-October to determine the next laureate or laureates of the Prize in Economics.[12][13][20] As with the Nobel Prizes, no more than three people can share the prize for a given year; they must still be living at the time of the Prize announcement in October; and information about Prize nominations cannot be publicly disclosed for 50 years.[19]

With the Nobel Laureates in Physics, Chemistry, Physiology or Medicine, and Literature, each Laureate in Economics receives a diploma, gold medal, and monetary grant award document from the King of Sweden at the annual Nobel Prize Award Ceremony in Stockholm, on December 10—the anniversary of Nobel's death.[1][21]

On October 15, 2007 the Royal Swedish Academy of Sciences, the Bank of Sweden, and the Nobel Foundation announced the Academy's award of the Prize in Economic Sciences to three Americans, Leonid Hurwicz, Eric Maskin, and Roger Myerson, "for having laid the foundations of mechanism design theory. [Their work] has among other things helped economists identify efficient trading mechanisms, regulation schemes and voting procedures."[16]

Changes to the prize

Sylvia Nasar wrote in her book A Beautiful Mind that in February 1995, after acrimony pertaining to the awarding of the 1994 Prize in Economics to John Forbes Nash, the Prize in Economics was redefined as a prize in social science, opening it to fields such as political science, psychology, and sociology.[22][23] Moreover, the composition of the Economics Prize Committee changed to include two non-economists. This has not been confirmed by the Economics Prize Committee. The members of the 2007 Economics Prize Committee contradict Nasar's claim since the secretary and 4 of the 5 members are professors of economics.[24] One should note, however, that Herbert Simon was the first non-economist to win the prize in 1978 (his PhD was in political science, though his influence on economics is well-known).

Controversies and criticisms

Some critics argue that the prestige of the Prize in Economics derives in part from its association with the Nobel Prizes, an association that has often been a source of controversy. Among the most vocal critics of the Prize in Economics is the Swedish human rights lawyer Peter Nobel, a great-grandnephew of Alfred Nobel.[25] Swedish economist Gunnar Myrdal and former Swedish minister of finance Kjell-Olof Feldt have also advocated that the Prize in Economics should be abolished.[26] Myrdal's objections were based on his view that the 1976 Prize in Economics to Milton Friedman and the 1974 Prize in Economics shared by Friedrich Hayek (both classical liberal economists) were undeserved, on the argument that Economics did not qualify as a science. If he had been asked about the establishment of the Prize before receiving it, Hayek stated that he would "have decidedly advised against it."[26][27]

Some critics claim the selection of recipients for the Prize in Economics is biased toward mainstream economics.[28][29] The Department of Economics at the University of Chicago has garnered nine of these Prizes—more than any other university—leading some critics to opine that such an outcome demonstrates either a bias, or the appearance of one, against candidates with alternative views.[29]

Milton Friedman was awarded the 1976 prize for his work on monetarism. The prize to Friedman caused international protests,[30] primarily in relation to a six-day trip he took to Chile in March 1975 where he gave lectures on inflation and met with many Chilean government officials, including the dictator Augusto Pinochet.[31] Four Nobel Prize laureates – George Wald, Linus Pauling, David Baltimore and Salvador Luria – wrote letters to the New York Times protesting the award in October 1976.[32][33]

The 1994 prize to John Forbes Nash caused controversy within the prize's selection committee because of his history of mental illness and alleged anti-semitism.[34] The controversy resulted in a change to the rules governing the committee in 1994. Previously, members of the Economics Prize Committee members had no limit to their term of service; they now serve for three years.[22]

Nassim Taleb has also criticised the Prize for promoting economic theories based on a misunderstanding of risk. He points to the 1990 Prize in Economics, awarded to William Sharpe and Harry Markowitz for theories that, Taleb says, had already been undermined by the stock market crash of 1987; the 1997 Prize, awarded to Robert C. Merton and Myron Scholes for their option pricing formula; and the 2003 Prize, awarded to Robert F. Engle for his "ARCH" method of prediction of volatility, which Taleb says underperforms relative to volatility forecasts made by ordinary traders.[35]

Alternative names

The official Swedish name of the Prize is Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne. The Nobel Foundation's translations of the Swedish name into English have varied since 1969:

Years Official name in English
1969–1970 Prize in Economic Science dedicated to the memory of Alfred Nobel[36][37]
1971 Prize in Economic Science[38]
1972 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel[39]
1973–1975 Prize in Economic Science in Memory of Alfred Nobel[40][41]
1976–1977, 1983 Prize in Economic Sciences in Memory of Alfred Nobel[42][43][44]
1978–1981, 1984–1990 Alfred Nobel Memorial Prize in Economic Sciences[45][46][47][48]
1982 Alfred Nobel Memorial Prize in Economic Science[49]
1991 Sveriges Riksbank (Bank of Sweden) Prize in Economic Sciences in Memory of Alfred Nobel[50]
1992–2005 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel[51][52]
2006–present The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel[53][54]

During the Nobel Banquet, many laureates have referred to the prize as something other than the "Prize in Economics":

Year: Laureate Laureate's name for the prize
1969: Jan Tinbergen[55] Alfred Nobel Memorial Prize for Economics
1970: Paul A. Samuelson[56] Alfred Nobel Memorial Awards in Economics
1971: Simon Kuznets,[57]
1994: John C. Harsanyi[58]		 Nobel Memorial Prize
1974: Friedrich August von Hayek[59] Nobel Memorial Prize for economic science
1975: Tjalling C. Koopmans[60] award for economics
1976: Milton Friedman,[61]
1981: James Tobin[62],
2006: Edmund S. Phelps[63]		 Prize in Economic Sciences in Memory of Alfred Nobel
1979: Theodore W. Schultz,[64]
1995: Robert E. Lucas Jr.,[65]		 Nobel Prize in Economics
1988: Maurice Allais[66] Prix Nobel d'Economie (French for Nobel Prize in Economics)
1981: Lawrence R. Klein[67] Prize in Economic Science

While some sources observe that the Prize in Economic Sciences in Memory of Alfred Nobel is commonly referred to informally as the "Nobel Prize in Economics," the press and other agencies have also called it by other names:

Economics Prize Committee members

Economics Prize Committee members from 1969-1984[73]
Name Years Affiliation
Bertil Ohlin Chairman 1969-1974 Stockholm School of Economics
Erik Lundberg 1969-1979

Chairman 1975-1979
Associate member 1980-

 Stockholm School of Economics
Ingvar Svennilson 1969-1971 University of Stockholm
Herman Wold 1969-1980 University of Uppsala

University of Gothenburg
Assar Lindbeck 1969-1994

Chairman 1980-1994[74]

 University of Stockholm
Ragnar Bentzel 1975-1990

Secretary 1969-1980, 1982-

 University of Uppsala
Sune Carlson 1972-1979

Associate member 1980-

 University of Uppsala
Lars Werin 1980-

Secretary 1981
Associate member 1975-1979

 University of Stockholm
Ingemar Ståhl 1980- University of Lund
Karl-Göran Mäler 1981- Stockholm School of Economics
Economics Prize Committee members from 1998-2008[75][76][77]
Name Years Affiliation
Jörgen Weibull 1998–2007

Chairman 2004–2007[78]

 A.O. Wallenberg Professor of Economics
Stockholm School of Economics
Peter Englund 1993–1995

Secretary 1996–1997, 2002–[79]

 Professor of Banking and Insurance
Stockholm School of Economics
Lars Calmfors 1996–1998, 2003–2007[80] Professor of International Economics
Stockholm University
Bertil Näslund 1999[81] Professor
Stockholm School of Economics
Per Krusell 2003–

Adjunct member 2003–2004[82]

 Professor of Economics
Princeton University
Karl-Gustaf Löfgren 2002?– Professor of Economics
Umeå University
Timo Tiräsvirta 2003?- Professor of Economic Statistics (emeritus)
Stockholm School of Economics

Professor of Econometrics
School of Economics and Management, University of Aarhus[83]
Bertil Holmlund Adjunct member 1998-2001, 2005-2006

Chairman 2008[84]

 Professor of Economics

Uppsala University

Laureates

Main article: List of Nobel laureates in Economics

Demographics of the Economics Prize laureates

Whereas the five Nobel Prizes have all been awarded at some time to females, all Laureates in Economics so far have been men.[85] As of 2008, some 60% of them have been USA citizens.

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 "Nobel Prize". Encyclopædia Britannica (2007). Retrieved on 2007-11-14. "An additional award, the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968 by the Bank of Sweden and was first awarded in 1969. Although not technically a Nobel Prize, it is identified with the award; its winners are announced with the Nobel Prize recipients, and the Prize in Economic Sciences is presented at the Nobel Prize Award Ceremony."
  2. ↑ John A. Hird. Power, Knowledge, and Politics. (2005). Georgetown University Press. ISBN 1589010493 p.33
  3. ↑ 3.0 3.1 "Excerpt from the Will of Alfred Nobel". The Nobel Foundation. Retrieved on 2007-11-07.
  4. ↑ 4.0 4.1 "Qualified Nominators – The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel". The Nobel Foundation. Retrieved on 2007-10-18. "The Prize in Economics is not a Nobel Prize."
  5. ↑ Peter Englund. "Your Questions about The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel". The Nobel Foundation. Retrieved on 2007-10-30. "The Nobel Prizes are only those that are specifically mentioned in Alfred Nobel's will (Physics, Chemistry, Physiology or Medicine, Literature and Peace). The Economics Prize came much later and is a prize in memory of Alfred Nobel. In all relevant respects the committee understands and treats economics as a field of science."
  6. ↑ Sylvia Nasar (1998). A Beautiful Mind. New York: Simon & Schuster. pp. 358. ISBN 0-684-81906-6. "It is, in fact, not a Nobel Prize, but rather 'The Central Bank of Sweden [Sveriges Riksbank] Prize in Economic Science[s] in Memory of Alfred Nobel.'". 
  7. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel". Sveriges Riksbank. Retrieved on 2007-11-07. "Sveriges Riksbank’s Prize in Economic Sciences in Memory of Alfred Nobel was established in connection with the Riksbank’s 300th anniversary in 1968."
  8. ↑ "The Nobel Prize". The Nobel Foundation. Retrieved on 2007-11-07. "In 1968, Sveriges Riksbank established The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, founder of the Nobel Prize."
  9. ↑ 9.0 9.1 "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel". The Nobel Foundation. Retrieved on 2007-11-07. "In 1968, Sveriges Riksbank (Sweden's central bank) established this Prize in memory of Alfred Nobel, founder of the Nobel Prize. The first Prize in Economics was awarded to Ragnar Frisch and Jan Tinbergen in 1969"
  10. ↑ "Jan Tinbergen" (2007), in Encyclopædia Britannica, accessed November 16, 2007, from Encyclopædia Britannica Online: <http://www.britannica.com/eb/article-9380801>.
  11. ↑ "Ragnar Frisch" (2007), in Encyclopædia Britannica, accessed November 16, 2007, from Encyclopædia Britannica Online: <http://www.britannica.com/eb/article-9364984>.
  12. ↑ 12.0 12.1 12.2 12.3 12.4 12.5 "Statutes for The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel approved by the Crown on the 19th day of December 1968". The Nobel Foundation. Retrieved on 2007-11-16. "In celebration of the Tercentenary of Sveriges Riksbank, the Bank has instituted a prize in economic sciences in memory of Alfred Nobel. ... The Prize shall be awarded annually to a person who has written a work on economic sciences of the eminent significance expressed in the will of Alfred Nobel drawn up on November 27, 1895. ... The Prize shall be awarded by the Royal Academy of Sciences in accordance with the rules governing the award of the Nobel Prizes instituted through his will."
  13. ↑ 13.0 13.1 13.2 13.3 "Nominating and Awarding", in "Prize in Economic Sciences", Royal Swedish Academy of Sciences, accessed November 17, 2007.
  14. ↑ "The Prize Amount". The Nobel Foundation. Retrieved on 2007-11-17.
  15. ↑ 15.0 15.1 Assar Lindbeck, "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1969-2006", nobelprize.org, April 18, 1999, accessed November 11, 2007.
  16. ↑ 16.0 16.1 "The Prize in Economic Sciences 2007", press release, Royal Swedish Academy of Sciences, October 15, 2007, accessed November 16, 2007.
  17. ↑ "Framställning till riksdagen 2006/07: RB1, Årsredovisning för Sveriges riksbank för räkenskapsåret 2006" (PDF). Sveriges Riksbank (2007-02-08). Retrieved on 2008-01-08. "I posten ekonomipris ingår prissumman om 10 miljoner kronor samt administrationskostnader för detta pris om 6,5 miljoner kronor. Dessutom har bidrag givits till det interaktiva Internetmuseum som Nobelstiftelsen byggt upp. Bidraget avser täckande av kostnaden för information om ekonomipriset. Bidraget ska enligt avtal utbetalas årligen med 1 miljon kronor till och med 2008."
  18. ↑ "Prize in Economic Sciences", Royal Swedish Academy of Sciences, accessed November 17, 2007.
  19. ↑ 19.0 19.1 19.2 "Nomination and Selection of the Laureates in Economics". The Nobel Foundation. Retrieved on 2007-10-18.
  20. ↑ "Members". Royal Swedish Academy of Sciences. Retrieved on 2007-10-18.
  21. ↑ "The Nobel Prize Award Ceremonies and Banquets". The Nobel Foundation. Retrieved on 2007-11-07.
  22. ↑ 22.0 22.1 Sylvia Nasar (1998). A Beautiful Mind. New York: Simon & Schuster. pp. 372. ISBN 0-684-81906-6. 
  23. ↑ Samuel Brittan, "The Not So Nobel Nobel Prize", The Financial Times, December 19, 2003, accessed November 10, 2007.
  24. ↑ "The Economics Prize Committee". Nobel Foundation. Retrieved on 2008-01-08.
  25. ↑ "Nobel descendant slams Economics prize", The Local (28 September 2005). Retrieved on 2007-08-31. 
  26. ↑ 26.0 26.1 Brittan, Samuel (19 December 2003). "The not so noble Nobel Prize", The Financial Times. Retrieved on 2007-08-31. 
  27. ↑ Hayek, Friedrich (1974-12-10). "Friedrich August von Hayek - Banquet Speech". Nobel Foundation. Retrieved on 2007-11-01.
  28. ↑ Nasar, Sylvia (October 13 2001). "The Sometimes Dismal Nobel Prize in Economics", New York Times. Retrieved on 2007-10-18. 
  29. ↑ 29.0 29.1 Millmow, Alex (May 2 2002). "An IgNobel Scandal", Post-Autistic Economics Review. Retrieved on 2007-10-18. 
  30. ↑ Feldman, Burton (2000). "Chapter 9: The Economics Memorial Prize". The Nobel Prize: A History of Genius, Controversy, and Prestige. New York: Arcade Publishing. p. 350. ISBN 1-55970-537-X. 
  31. ↑ Friedman, Milton; Friedman, Rose D.. "Two Lucky People: One Week in Stockholm". Hoover Digest: Research and Opinion on Public Policy 1998 (4). http://www.hoover.org/publications/digest/3540561.html. 
  32. ↑ Wald, George (1976-10-24). "Letters to the Editor: The Laureate", New York Times, pp. 166. 
  33. ↑ Baltimore, David (1976-10-24). "Letters to the Editor: The Laureate", New York Times, pp. 166. 
  34. ↑ Nasar, Sylvia (1998). "The Prize". A Beautiful Mind. New York: Simon & Schuster. pp. 356-373. ISBN 0-684-81906-6. 
  35. ↑ Taleb, Nassim Nicholas (2007-10-23). "The pseudo-science hurting markets", The Financial Times. 
  36. ↑ Lundberg, Erik (1969-12-10). "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1969: Presentation Speech". Nobel Foundation. Retrieved on 2007-10-17.
  37. ↑ Lindbeck, Assar (1970-12-10). "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1970: Presentation Speech". Nobel Foundation. Retrieved on 2007-10-17.
  38. ↑ Ohlin, Bertil (1971-12-10). "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1971: Presentation Speech". Nobel Foundation. Retrieved on 2007-10-17.
  39. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1972: Press Release". Nobel Foundation (1972-10-25). Retrieved on 2007-10-17.
  40. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1973: Press Release". Nobel Foundation (1973-10-18). Retrieved on 2007-10-17.
  41. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1975: Press Release". Nobel Foundation (1975-10-14). Retrieved on 2007-10-17.
  42. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1976: Press Release". Nobel Foundation (1976-10-14). Retrieved on 2007-10-17.
  43. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1977: Press Release". Nobel Foundation (1977-10-14). Retrieved on 2007-10-17.
  44. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1983: Press Release". Nobel Foundation (1983-10-17). Retrieved on 2007-10-17.
  45. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1978: Press Release". Nobel Foundation (1978-10-16). Retrieved on 2007-10-17.
  46. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1981: Press Release". Nobel Foundation (1981-10-13). Retrieved on 2007-10-17.
  47. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1984: Press Release". Nobel Foundation (1984-10-18). Retrieved on 2007-10-17.
  48. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1990: Press Release". Nobel Foundation (1990-10-16). Retrieved on 2007-10-17.
  49. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1982: Press Release". Nobel Foundation (1982-10-20). Retrieved on 2007-10-17.
  50. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1991: Press Release". Nobel Foundation (1991-10-15). Retrieved on 2007-10-17.
  51. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1992: Press Release". Nobel Foundation (1992-10-13). Retrieved on 2007-10-17.
  52. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2005: Press Release". Nobel Foundation (2005-10-10). Retrieved on 2007-10-17.
  53. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2006: Press Release". Nobel Foundation (2006-10-09). Retrieved on 2007-10-17.
  54. ↑ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2007: Press Release". Nobel Foundation (2007-10-15). Retrieved on 2007-10-17.
  55. ↑ Tinbergen, Jan (1969-12-10). "Jan Tinbergen: Banquet Speech". Nobel Foundation. Retrieved on 2007-10-16.
  56. ↑ Samuelson, Paul A. (1970-12-10). "Paul A. Samuelson: Banquet Speech". Nobel Foundation. Retrieved on 2007-10-16.
  57. ↑ Kuznets, Simon (1971-12-10). "Simon Kuznets: Banquet Speech". Nobel Foundation. Retrieved on 2007-10-16.
  58. ↑ Harsanyi, John C. (1994-12-10). "John C. Harsanyi: Banquet Speech". Nobel Foundation. Retrieved on 2007-10-16.
  59. ↑ von Hayek, Friedrich August (1974-12-10). "Friedrich August von Hayek: Banquet Speech". Nobel Foundation. Retrieved on 2007-10-16.
  60. ↑ Koopmans, Tjalling C. (1975-12-10). "Tjalling C. Koopmans: Banquet Speech". Nobel Foundation. Retrieved on 2007-10-16.
  61. ↑ Friedman, Milton (1976-12-10). "Milton Friedman: Banquet Speech". Nobel Foundation. Retrieved on 2007-10-16.
  62. ↑ Tobin, James (1981-12-10). "James Tobin: Banquet Speech". Nobel Foundation. Retrieved on 2007-10-16.
  63. ↑ Phelps, Edmund S. (2006-12-10). "Edmund S. Phelps: Banquet Speech". Nobel Foundation. Retrieved on 2007-10-16.
  64. ↑ Schultz, Theodore W. (1979-12-10). "Theodore W. Schultz: Banquet Speech". Nobel Foundation. Retrieved on 2007-10-16.
  65. ↑ Lucas Jr., Robert E. (1995-12-10). "Robert E. Lucas Jr.: Banquet Speech". Nobel Foundation. Retrieved on 2007-10-16.
  66. ↑ Allais, Maurice (1988-12-10). "Maurice Allais: Banquet Speech". Nobel Foundation. Retrieved on 2007-10-16.
  67. ↑ Klein, Lawrence R. (1980-12-10). "Lawrence R. Klein: Banquet Speech". Nobel Foundation. Retrieved on 2007-10-16.
  68. ↑ Associated Press (2007-10-15). "Recent winners of the Nobel Memorial Prize in economics", Star Tribune. Retrieved on 2007-10-16. 
  69. ↑ Prokesch, Steven (1989-10-12). "Norwegian Wins Nobel For His Work in Economics", New York Times. Retrieved on 2007-11-10. 
  70. ↑ Tickner, Neil (2005-10-10). "University of Maryland Economist Wins Nobel Memorial Prize in Economics", University of Maryland. Retrieved on 2007-10-16. 
  71. ↑ "The 2003 Nobel Memorial Prize in Economics: Analyzing Data with Irregular Trends and Volatility". National Science Foundation (2004-12-23). Retrieved on 2007-10-16.
  72. ↑ Gans, Joshua (August 2007). "Susan Athey Awarded John Bates Clark Medal". Stanford Business Magazine (Stanford Graduate School of Business). http://www.gsb.stanford.edu/news/bmag/sbsm0708/kn-athey.html. Retrieved on 2007-11-08. 
  73. ↑ Lindbeck, Assar (March 1985). "The Prize in Economic Science in Memory of Alfred Nobel". Journal of Economic Literature 23 (1): 37–56. http://links.jstor.org/sici?sici=0022-0515(198503)23:1%3C37:TPIESI%3E2.0.CO;2-1. Retrieved on 2008-01-08. 
  74. ↑ Gylfason, Thorvaldur (2005-01-27). "An Interview with Assar Lindbeck" (PDF). Macroeconomic Dynamics 10 (1): 101–130. doi:10.1017.S1365100505050029 (inactive 2008-06-26). http://www.iies.su.se/~assar/Links/GylfasonMacroecDynamics.pdf. 
  75. ↑ "The Economics Prize Committee: The Economics Prize Committee 2006". Nobel Foundation. Archived from the original on 2006-12-23. Retrieved on 2008-01-08.
  76. ↑ "The Economics Prize Committee: The Economics Prize Committee 2007". Nobel Foundation. Retrieved on 2008-01-08.
  77. ↑ "Kommittén för priset i ekonomisk vetenskap till Alfred Nobels minne" (in Swedish). Royal Swedish Academy of Sciences. Retrieved on 2008-01-09.
  78. ↑ Jönsson, Peter (2007-12-17). "Jörgen Weibull: Har delat ut sitt sista pris" (in Swedish), Ekonominyheterna.se. Retrieved on 2008-01-09. 
  79. ↑ "Peter Englund: Curriculum Vitae" (PDF). Stockholm School of Economics. Retrieved on 2008-01-09.
  80. ↑ "Lars Calmfors: Positions and exams". Stockholm University. Retrieved on 2008-01-09.
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  82. ↑ "PER KRUSELL" (PDF). Princeton University. Retrieved on 2008-01-09.
  83. ↑ "Timo Teräsvirta". School of Economics and Management, University of Aarhus. Retrieved on 2008-01-09.
  84. ↑ "Bertil Holmlund: Curriculum Vitae" (PDF). Department of Economics, Stockholm University. Retrieved on 2008-01-09.
  85. ↑ "News from Nobelprize.org" (official newsletter of the Nobel Foundation), nobelprize.org, March 23, 2007, accessed November 11, 2007.

External links

Nobel Laureates in Economics
1969–1975

Ragnar Frisch / Jan Tinbergen (1969) · Paul Samuelson (1970) · Simon Kuznets (1971) · John Hicks / Kenneth Arrow (1972) · Wassily Leontief (1973) · Gunnar Myrdal / Friedrich Hayek (1974) · Leonid Kantorovich / Tjalling Koopmans (1975)
1976–2000

Milton Friedman (1976) · Bertil Ohlin / James Meade (1977) · Herbert Simon (1978) · Theodore Schultz / Arthur Lewis (1979) · Lawrence Klein (1980) · James Tobin (1981) · George Stigler (1982) · Gérard Debreu (1983) · Richard Stone (1984) · Franco Modigliani (1985) · James M. Buchanan (1986) · Robert Solow (1987) · Maurice Allais (1988) · Trygve Haavelmo (1989) · Harry Markowitz / Merton Miller / William Forsyth Sharpe (1990) · Ronald Coase (1991) · Gary Becker (1992) · Robert Fogel / Douglass North (1993) · John Harsanyi / John Forbes Nash / Reinhard Selten (1994) · Robert Lucas, Jr. (1995) · James Mirrlees / William Vickrey (1996) · Robert C. Merton / Myron Scholes (1997) · Amartya Sen (1998) · Robert Mundell (1999) · James Heckman / Daniel McFadden (2000)
2001–present

George Akerlof / Michael Spence / Joseph E. Stiglitz (2001) · Daniel Kahneman / Vernon L. Smith (2002) · Robert F. Engle / Clive Granger (2003) · Finn E. Kydland / Edward C. Prescott (2004) · Robert Aumann / Thomas Schelling (2005) · Edmund Phelps (2006) · Leonid Hurwicz / Eric Maskin / Roger Myerson (2007) · Paul Krugman (2008)

Complete roster · 1969–1975 · 1976–2000 ·
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Career awards
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Research awards
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