Economics Nobel Prizes

2005
ROBERT J. AUMANN and THOMAS C. SCHELLING, for having enhanced our understanding of conflict and cooperation through game-theory analysis.

2004
FINN E. KYDLAND and EDWARD C. PRESCOTT, for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles.

2003
ROBERT F. ENGLE, for methods of analyzing economic time series with time-varying volatility (ARCH), and CLIVE W. J. GRANGER, for methods of analyzing economic time series with common trends (cointegration).

2002
DANIEL KAHNEMAN, for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty, and VERNON L. SMITH, for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms.

2001
GEORGE A. AKERLOF, A. MICHAEL SPENCE, and JOSEPH E. STIGLITZ, for their analyses of markets with asymmetric information.

2000
JAMES J. HECKMAN for his development of theory and methods for analyzing selective samples and DANIEL L. MCFADDEN for his development of theory and methods for analyzing discrete choice.

1999
ROBERT A. MUNDELL for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas.

1998
AMARTYA SEN for his contributions to welfare economics.

1997
ROBERT C. MERTON and MYRON S. SCHOLES for a new method to determine the value of derivatives.

1996
JAMES A. MIRRLEES and WILLIAM VICKREY for their fundamental contributions to the economic theory of incentives under asymmetric information.

1995
ROBERT E. LUCAS for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy.

1994
JOHN C. HARSANYI, JOHN F. NASH and REINHARD SELTEN for their pioneering analysis of equilibria in the theory of non-cooperative games.

1993
ROBERT W. FOGEL and DOUGLASS C. NORTH for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change.

1992
GARY S. BECKER for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including nonmarket behaviour.

1991
RONALD H. COASE for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy.

1990
HARRY M. MARKOWITZ, MERTON M. MILLER and WILLIAM F. SHARPE for their pioneering work in the theory of financial economics.

1989
TRYGVE HAAVELMO for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures.

1988
MAURICE ALLAIS for his pioneering contributions to the theory of markets and efficient utilization of resources.

1987
ROBERT M. SOLOW for his contributions to the theory of economic growth.

1986
JAMES M. BUCHANAN for his development of the contractual and constitutional bases

for the theory of economic and political decision-making.

1985
FRANCO MODIGLIANI for his pioneering analyses of saving and of financial markets.

1984
RICHARD STONE for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis.

1983
GERARD DEBREU for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium.

1982
GEORGE J. STIGLER for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation.

1981
JAMES TOBIN for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices.

1980
LAWRENCE R. KLEIN for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies.

1979
THEODORE W. SCHULTZ and ARTHUR LEWIS for their pioneering research into economic development research with particular consideration of the problems of developing countries.

1978
HERBERT A. SIMON for his pioneering research into the decision-making process within economic organizations.

1977
BERTIL OHLIN and JAMES E. MEADE for their pathbreaking contribution to the theory of international trade and international capital movements.

1976
MILTON FRIEDMAN for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy.

1975
LEONID VITALIYEVICH KANTOROVICH and TJALLING C. KOOPMANS for their contributions to the theory of optimum allocation of resources.

1974
GUNNAR MYRDAL and FRIEDRICH AUGUST VON HAYEK 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.

1973
WASSILY LEONTIEF for the development of the input-output method and for its application to important economic problems.
1972
JOHN R. HICKS and KENNETH J. ARROW for their pioneering contributions to general economic equilibrium theory and welfare theory.

1971
SIMON KUZNETS 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.