Nobel Prize in Economic Sciences |

Year | Recipient(s) | Contribution |

2003 | ROBERT F. ENGLE | for methods of analyzing economic time series with time-varying volatility |

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 |

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. ACKERLOF, 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 |

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 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 behavior and interaction, including nonmarket behavior |

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, JR. | 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 | SIR 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 SIR 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 | SIR 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 |

1970 | PAUL A SAMUELSON | for the scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science |

1969 | RAGNAR FRISCH and JAN TINBERGEN | for having developed and applied dynamic models for the analysis of economic processes |