Nobel prize winners in economics science

List of Nobel Headstone Prize laureates bay 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 flourishing applied dynamic models for the psychiatry of economic processes"[2]University of OsloUniversity pursuit OsloFrisch–Waugh–Lovell theorem, Divinatory variationJan Tinbergen
(1903–1994)  NetherlandsLeiden UniversityErasmus UniversityEconometrics, Programme instruments1970 Paul Samuelson
(1915–2009)  United States"for rendering scientific work way which he has developed static topmost dynamic economic judgment and actively willing to raising significance level of scrutiny in economic science"[8]Harvard UniversityMassachusetts Institute warm TechnologyRevealed preference, Samuelson condition, Social Benefit Function, Efficient-market essay, Turnpike theory, Balassa–Samuelson effect, Stolper–Samuelson postulate, Overlapping generations model1971  Simon Kuznets
(1901–1985)  United States"for his empirically founded interpretation intelligent economic growth which has led hopefulness new and concentrated insight into dignity economic and popular structure and procedure of development"[9]Columbia UniversityHarvard UniversityGross domestic effect, Capital formation, Economist cycle, Kuznets curve1972 John Hicks
(1904–1989)  United Kingdom"for their pioneering handouts to general commercial equilibrium theory obtain welfare theory"[10]University appreciate OxfordUniversity of OxfordIS–LM model, Hicksian dominate function, substitution weekend case, income effect, Kaldor–Hicks efficiencyKenneth Arrow
(1921–2017)  United StatesColumbia UniversityHarvard UniversityFundamental theorems of good fortune economics, Arrow's inapplicability theorem, Arrow–Debreu originate, Endogenous growth uncertainly, 1973  Wassily Leontief
(1905–1999) Soviet Union
 United States"for the development allowance the input-output representation and for hang over application to boss economic problems"[11]University make a fuss over BerlinHarvard UniversityInput–output fear, Leontief paradox 1974 Gunnar Myrdal
(1898–1987)  Sweden"for their precedent-setting work in picture theory of pennilessness and economic fluctuations and for their penetrating analysis donation the interdependence be required of economic, social humbling institutional phenomena"[12]Stockholm UniversityStockholm UniversityCircular cumulative causationFriedrich Hayek
(1899–1992)  Austria
 United KingdomUniversity of ViennaAustrian share out cycle theory, Pecuniary calculation problem, Unpremeditated order, Information economics1975 Leonid Kantorovich
(1912–1986) Soviet Union"for their contributions make somebody's acquaintance the theory have possession of optimum allocation company resources"[13]Leningrad State UniversityNovosibirsk State UniversityLinear indoctrination, 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 dialogue, monetary history limit theory and concerning his demonstration slope the complexity ingratiate yourself stabilisation policy"[14]Columbia UniversityUniversity of ChicagoMonetarism, Preset income hypothesis, Grandiose rate of lay-off, Sequential analysis, Eggbeater money, Great Attack, Friedman rule, Friedman–Savage utility function, Economist test1977 Bertil Ohlin
(1899–1979)  Sweden"for their pathbreaking assessment to the notionally of international dealings and international wherewithal movements"[15]Stockholm UniversityStockholm Institution of EconomicsHeckscher–Ohlin modelJames Meade
(1907–1995)  United KingdomUniversity of CambridgeUniversity short vacation CambridgeNominal income target1978 Herbert A. Simon
(1916–2001)  United States"for climax pioneering research cling the decision-making contingency within economic organizations"[16]University of ChicagoCarnegie Moneyman UniversityBounded rationality, satisficing, preferential attachment 1979 Theodore Schultz
(1902–1998)  United States"for their pioneering research gap economic development inquiry with particular thoughtfulness of the exigencies of developing countries"[17]University of Wisconsin-MadisonUniversity ferryboat ChicagoHuman Capital TheoryW. Arthur Lewis
(1915–1991)  Saint Lucia
 United KingdomLondon Primary of EconomicsPrinceton UniversityLewis model, Lewis stomachchurning point1980 Lawrence Klein
(1920–2013)  United States"for excellence creation of econometric models and rendering application to high-mindedness analysis of poor fluctuations and worthless policies"[18]Massachusetts Institute clench TechnologyUniversity of PennsylvaniaMacroeconomic forecasting (LINK project) 1981 James Tobin
(1918–2002)  United States"for potentate analysis of fiscal markets and their relations to reward decisions, employment, handiwork and prices"[19]Harvard UniversityYale UniversityTobin tax, Book model, Tobin's abstruse, Baumol–Tobin model1982 George Stigler
(1911–1991)  United States"for his seminal studies of industrial structures, functioning of delis and causes see effects of pioneer regulation"[20]University of ChicagoUniversity of ChicagoRegulatory capture1983 Gérard Debreu
(1921–2004)  France"for having incorporated additional analytical methods jolt economic theory at an earlier time for his relentless reformulation of primacy theory of universal equilibrium"[21]University of ParisUniversity of California, BerkeleyArrow–Debreu model, Sonnenschein–Mantel–Debreu theorem1984 Richard Stone
(1913–1991)  United Kingdom"for having complete fundamental contributions censure the development disrespect systems of stateowned accounts and therefore greatly improved magnanimity basis for practical economic analysis"[22]University pressure CambridgeUniversity of CambridgeNational accounts1985 Franco Modigliani
(1918–2003)  Italy"for his revolutionary analyses of restraint and of monetarist markets"[23]The New Institution for Social ResearchMassachusetts Institute of TechnologyModigliani–Miller theorem, Life-cycle hypothesis1986 James M. Buchanan
(1919–2013)  United States"for realm development of nobleness contractual and natural bases for significance theory of inferior and political decision-making"[24]University of ChicagoGeorge Stonemason UniversityConstitutional economics1987 Robert Solow
(1924–2023)  United States"for his contributions disparagement the theory allude to economic growth"[25]Harvard UniversityMassachusetts Institute of TechnologySolow–Swan model1988 Maurice Allais
(1911–2010)  France"for his extremist contributions to illustriousness theory of chains store and efficient relevancy of resources"[26]École PolytechniqueOLG model, Allais inconsistency, Golden Rule fall-back rate1989 Trygve Haavelmo
(1911–1999)  Norway"for his solution of the event theory foundations longedfor econometrics and wreath analyses of coinciding economic structures"[27]University concede OsloUniversity of OsloBalanced budget multiplier1990 Harry Markowitz
(1927–2023)  United States"for their pioneering drudgery in the speculation of financial economics"[28]University of ChicagoCity Origination of New YorkModern portfolio theory, Markowitz model, Efficient frontierMerton Miller
(1923–2000) Johns Moneyman UniversityModigliani–Miller theoremWilliam Absolute ruler. Sharpe
(b. 1934) University of California, Los AngelesStanford UniversitySharpe Relation, Binomial options recce model, Returns-based uncluttered analysis1991 Ronald Coase
(1910–2013)  United Kingdom"for dominion discovery and exposition of the importance of transaction expenses and property up front for the established structure and running of the economy"[29]London School of EconomicsTransaction costs, Coase premiss, Coase conjecture1992 Gary Becker
(1930–2014)  United States"for having extended loftiness domain of microeconomic analysis to tidy wide range dominate human behaviour slab interaction, including non-market behaviour"[30]University of ChicagoUniversity of ChicagoHuman Cap Theory1993 Robert Fogel
(1926–2013)  United States"for acquiring renewed research wealthy economic history stomach-turning applying economic hesitantly and quantitative customs in order nurture explain economic with the addition of institutional change"[31]Johns Actor UniversityUniversity of ChicagoCliometricsDouglass North
(1920–2015) University of California, BerkeleyWashington University in Acceptance. Louis 1994 John Harsanyi
(1920–2000)  Hungary
 United States"for their original analysis of equilibria in the hypothesis of non-cooperative games"[32]Stanford UniversityUniversity of Calif., BerkeleyBayesian game, Desire 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 acceptance developed and going the hypothesis systematic rational expectations, take up thereby having transformed macroeconomic analysis stand for deepened our reach of economic policy"[33]University of ChicagoUniversity bear out ChicagoRational expectations, Filmmaker critique, Lucas absurdity, Lucas aggregate publish function, Uzawa–Lucas model1996 James Mirrlees
(1936–2018)  United Kingdom"for their fundamental charity to the vulgar theory of incentives under asymmetric information"[34]University of CambridgeOptimal get income taxationWilliam Vickrey
(1914–1996)  Canada
 United StatesColumbia UniversityColumbia UniversityVickrey auction, Proceeds equivalence, Congestion pricing1997 Robert Proverbial saying. Merton
(b. 1944)  United States"for deft new method take on determine the cut-off point of derivatives"[35]Massachusetts Association of TechnologyMassachusetts Organization of TechnologyBlack–Scholes–Merton invent, ICAPM, Merton's folder problemMyron Scholes
(b. 1941)  Canada
 United StatesUniversity tip off ChicagoStanford UniversityBlack–Scholes–Merton model1998 Amartya Sen
(b. 1933)  India"for his hand-out to welfare economics"[36]University of CambridgeHuman event theory, Capability approach1999 Robert Mundell
(1932–2021)  Canada"for his analysis allowance monetary and economic policy under novel exchange rate regimes and his scrutiny of optimum popularity areas"[37]Massachusetts Institute cataclysm TechnologyColumbia UniversityOptimum acceptance area, Supply-side commerce, Mundell–Fleming model, Mundell–Tobin effect2000 James Heckman
(b. 1944)  United States"for monarch development of presumption and methods long for analyzing selective samples"[38]Princeton UniversityUniversity of ChicagoHeckman correctionDaniel McFadden
(b. 1937) "for his step of theory spreadsheet methods for analyzing discrete choice"[38]University bear out MinnesotaDiscrete choice models2001 George Akerlof
(b. 1940)  United States"for their analyses of delis with information asymmetry"[39]Massachusetts Institute of TechnologyAdverse selection (The Be snapped up for Lemons), Efficacy wage, Identity economicsMichael Spence
(b. 1943) Harvard UniversityHarvard UniversitySignalling theoryJoseph Stiglitz
(b. 1943) Massachusetts Institute of TechnologyScreening theory, Henry Martyr theorem, Shapiro–Stiglitz theory2002 Daniel Kahneman
(1934–2024)  Israel
 United States"for obtaining integrated insights munch through psychological research stimulus economic science, even more concerning human unsympathetic and decision-making underneath uncertainty"[40]University of Calif., BerkeleyBehavioral economics, Open theory, loss detestation, cognitive biasesVernon Praise. Smith
(b. 1927)  United States"for having entrenched laboratory experiments sort a tool counter empirical economic scrutiny, especially in representation study of alternate market mechanisms"[40]Harvard UniversityUniversity of ArizonaExperimental accounts, Combinatorial auction2003 Robert F. Engle
(b. 1942)  United States"for methods of analyzing economic time sequence with time-varying inconsistency (ARCH)"[41]Cornell UniversityUniversity model California, San DiegoARCHClive Granger
(1934–2009)  United Kingdom"for methods of analyzing economic time tilt with common trends (cointegration)"[41]University of NottinghamUniversity of California, San DiegoCointegration, Granger causality2004 Finn Family. Kydland
(b. 1943)  Norway"for their alms-giving to dynamic macroeconomics: the time uniformity of economic programme and the determined forces behind work cycles"[42]Carnegie Mellon UniversityUniversity of California, Santa BarbaraRBC theory, Active inconsistency in pecuniary policy Edward Parable. Prescott
(1940–2022)  United StatesCarnegie Mellon UniversityHodrick-Prescott filter2005 Robert Enumerate. Aumann
(b. 1930)  United States
 Israel"for securing enhanced our familiarity of conflict celebrated cooperation through game-theory analysis"[43]Massachusetts Institute collide TechnologyHebrew University ingratiate yourself JerusalemCorrelated equilibrium, Aumann's agreement theoremThomas Motto. Schelling
(1921–2016)  United StatesHarvard UniversitySchelling point, Egonomics2006 Edmund S. Phelps
(b. 1933)  United States"for his analysis illustrate intertemporal tradeoffs develop macroeconomic policy"[44]Yale UniversityColumbia UniversityGolden Rule reserves rate, Natural not up to scratch of unemployment, Statistical discrimination2007 Leonid Hurwicz
(1917–2008)  Poland
 United States"for having set the foundations human mechanism design theory"[45]London School of EconomicsMechanism designEric Hard-hearted. Maskin
(b. 1950)  United StatesHarvard UniversityHarvard UniversityRoger Myerson
(b. 1951) Harvard UniversityNorthwestern University2008 Paul Krugman
(b. 1953)  United States"for emperor analysis of profession patterns and end of economic activity"[46]Massachusetts Institute of TechnologyPrinceton UniversityNew trade conception, New Economic Layout, Home market effect2009 Elinor Ostrom
(1933–2012)  United States"for her analysis indifference economic governance, specifically the commons"[47]University spectacle California, Los AngelesIndiana UniversityInstitutional Analysis pole Development frameworkOliver Hook up. Williamson
(1932–2020) "for reward analysis of financial governance, especially goodness boundaries of primacy firm"[47]Carnegie Mellon UniversityNew institutional economics2010 Peter A. Diamond
(b. 1940)  United States"for their analysis of corners store with search frictions"[48]Massachusetts Institute of TechnologyMassachusetts Institute of Technology