Friday, October 19, 2012

Nobel Prize winners in Economic Sciences; from 1969 to 2012

It was in 1968 Sveriges Riksbank, the Sweden's central bank introduced Nobel Prize in Economics in Memory of Alfred Nobel who passed away in 1896.So the Nobel Prize in Economic Sciences is officially known as The Sveriges Riksbank Prize in Economic Sciences.The first Nobel prize in economics was awarded to Ragnar Frisch (Norway) and Jan Tinbergen (Netherlands) in the year 1969.Nobel prize of Economics came to India in 1998.Amartya Sen (India) was awarded for his contributions to welfare economics that year.

Alvin E. Roth (U.S.A), Lloyd S. Shapley (U.S.A)-awarded for the theory of stable allocations and the practice of market design
Thomas J. Sargent (U.S.A), Christopher A. Sims (U.S.A)-awarded for their empirical research on cause and effect in the macroeconomy
Peter A. Diamond (U.S.A), Dale T. Mortensen (U.S.A), Christopher A. Pissarides (Cyprus)-awarded for their analysis of markets with search frictions
Elinor Ostrom (U.S.A)-awarded for her analysis of economic governance, especially the commons
 Oliver E. Williamson (U.S.A)-awarded for his analysis of economic governance, especially the boundaries of the firm
Paul Krugman (U.S.A)-awarded for his analysis of trade patterns and location of economic activity
Leonid Hurwicz (U.S.A), Eric S. Maskin (U.S.A), Roger B. Myerson (U.S.A)-awarded for having laid the foundations of mechanism design theory
Edmund S. Phelps (U.S.A)-awarded for his analysis of intertemporal tradeoffs in macroeconomic policy
Robert J. Aumann (Israel/ U.S.A), Thomas C. Schelling (U.S.A)-awarded for having enhanced our understanding of conflict and cooperation through game-theory analysis
Finn E. Kydland (Norway), Edward C. Prescott (U.S.A)-awarded for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles
Robert F. Engle III (U.S.A)-awarded for methods of analyzing economic time series with time-varying volatility
Clive W.J. Granger (U.K)-awarded for methods of analyzing economic time series with common trends 
Daniel Kahneman (Israel/ U.S.A)-awarded for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty
 Vernon L. Smith (U.S.A)-awarded for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms
George A. Akerlof (U.S.A), A. Michael Spence (U.S.A), Joseph E. Stiglitz (U.S.A)-awarded for their analyses of markets with asymmetric information
James J. Heckman (U.S.A)-awarded for his development of theory and methods for analyzing selective samples,
Daniel L. McFadden (U.S.A)-awarded for his development of theory and methods for analyzing discrete choice
Robert A. Mundell (Canada)-awarded for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas
Amartya Sen (India)-awarded for his contributions to welfare economics
Robert C. Merton (U.S.A), Myron S. Scholes (U.S.A/ Canada)-awarded for a new method to determine the value of derivatives
James A. Mirrlees (U.K), William Vickrey (U.S.A/ Canada)-awarded for their fundamental contributions to the economic theory of incentives under asymmetric information
Robert E. Lucas Jr. (U.S.A)-awarded for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy
John C. Harsanyi (U.S.A), John F. Nash Jr. (U.S.A), Reinhard Selten (Germany)-awarded for their pioneering analysis of equilibria in the theory of non-cooperative games
Robert W. Fogel (U.S.A), Douglass C. North (U.S.A)-awarded for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change
Gary S. Becker (U.S.A)-awarded for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including non-market behaviour
Ronald H. Coase (U.K)-awarded for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy
Harry M. Markowitz (U.S.A), Merton H. Miller (U.S.A), William F. Sharpe (U.S.A)-awarded for their pioneering work in the theory of financial economics
Trygve Haavelmo (Norway)-awarded for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structure
Maurice Allais (France)-awarded for his pioneering contributions to the theory of markets and efficient utilization of resources
Robert M. Solow (U.S.A)-awarded for his contributions to the theory of economic growth
James M. Buchanan Jr. (U.S.A)-awarded for his development of the contractual and constitutional bases for the theory of economic and political decision-making
Franco Modigliani (Italy)-awarded for his pioneering analyses of saving and of financial markets
Richard Stone (U.K)-awarded for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis
Gerard Debreu (France)-awarded for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium
George J. Stigler (U.S.A)-awarded for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation
James Tobin (U.S.A)-awarded for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices
Lawrence R. Klein (U.S.A)-awarded for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies
Theodore W. Schultz (U.S.A), Sir Arthur Lewis (U.K)-awarded for their pioneering research into economic development research with particular consideration of the problems of developing countries
Herbert A. Simon (U.S.A)-awarded for his pioneering research into the decision-making process within economic organizations
Bertil Ohlin (Swedan), James E. Meade (U.K)-awarded for their pathbreaking contribution to the theory of international trade and international capital movements
Milton Friedman (U.S.A)-awarded for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilisation policy
Leonid Vitaliyevich Kantorovich (U.S.S.R), Tjalling C. Koopmans (U.S.A)-awarded for their contributions to the theory of optimum allocation of resources
Gunnar Myrdal (Swedan), Friedrich August von Hayek (U.K/ Austria)-awarded 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
Wassily Leontief (U.S.A)-awarded for the development of the input-output method and for its application to important economic problems
John R. Hicks (U.K), Kenneth J. Arrow (U.S.A)-awarded for their contributions to general economic equilibrium theory and welfare theory
Simon Kuznets (U.S.A)-awarded 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
Paul A. Samuelson (U.S.A)-awarded for his scientific work to raise the level of analysis in economic theory
Ragnar Anton Kittil Frisch (Norway), Jan Tinbergen (Netherlands)-awarded for developing and applying dynamic models for the analysis of economic processes


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