Nobel Prize Winners for Economics: History

Following is a historical table of Nobel Prize Laureates for Economics from the Nobel Foundation in Stockholm.

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Year Nobel Laureate(s)
     Discovery/Contribution   Country        Institution
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2011 Thomas J. Sargent        United States  New York University
     Christopher A. Sims      United States  Princeton University
     For their empirical research on cause and effect in the macroeconomy.
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2010 Peter A. Diamond         United States  Massachusetts Institute
                                             of Technology
     Dale T. Mortensen        United States  Northwestern University
     Christopher A. PissaridesCyprus, U.K.   London School of Economics
                                             and Political Science
     For their analysis of markets with search frictions.
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2009 Elinor Ostrom            United States  Indiana University
     For her analysis of economic governance, especially the commons
     Oliver E. Williamson     United States  University of California
     For his analysis of economic governance, especially the
     boundaries of the firm.
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2008 Paul Krugman             United States  Princeton Universit
     For his analysis of trade patterns and location of economic activity.
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2007 Leonid Hurwicz           United States  University of Minnesota
     Eric S. Maskin           United States  Institute for Advanced Study,
                                             Princeton
     Roger B. Myerson         United States  University of Chicago
     For having laid the foundations of mechanism design theory.
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2006 Edmund S. Phelps         United States  Columbia University
     For his analysis of intertemporal tradeoffs in macroeconomic policy.
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2005 Robert J. Aumann         Israel, USA    Hebrew University of Jerusalem
     Thomas C. Schelling      United States  University of Maryland
     For having enhanced our understanding of conflict and cooperation through
     game-theory analysis.
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2004 Finn E. Kydland          Norway         Carnegie Mellon University
     Edward C. Prescott       United States  Arizona State University
     For their contributions to dynamic macroeconomics: the time consistency
     of economic policy and the driving forces behind business cycles.
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2003 Robert F. Engle III      United States  New York University
     For methods of analyzing economic time series with time-varying
     volatility (ARCH)

     Clive W.J. Granger       United Kingdom University of California
     For methods of analyzing economic time series with common trends
     (cointegration).
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2002 Daniel Kahneman          USA, Israel    Princeton University
     For having integrated insights from psychological research into economic
     science, especially concerning human judgment and decision-making under
     uncertainty

     Vernon L. Smith          United States  George Mason University
     For having established laboratory experiments as a tool in empirical
     economic analysis, especially in the study of alternative market
     mechanisms.
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2001 George A. Akerlof        United States  University of California
     A. Michael Spence        United States  Stanford University
     Joseph E. Stiglitz       United States  Columbia University
     For their analyses of markets with asymmetric information”
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2000 James J. Heckman         United States  University of Chicago
     For his development of theory and methods for analyzing selective samples.

     Daniel L. McFadden       United States  University of California
     For his development of theory and methods for analyzing discrete choice.
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1999 Robert A. Mundell        Canada         Columbia University
     For his analysis of monetary and fiscal policy under different exchange
     rate regimes and his analysis of optimum currency areas.
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1998 Amartya Sen              India          Trinity College
     For his contributions to welfare economics.
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1997 Robert C. Merton         United States  Harvard University
     Myron S. Scholes         United States  Long-Term Capital Management
     For a new method to determine the value of derivatives
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1996 James A. Mirrlees        United Kingdom University of Cambridge
     William Vickrey          United States  Columbia University
     For their fundamental contributions to the economic theory of incentives
     under asymmetric information.
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1995 Robert E. Lucas Jr.      United States  University of Chicago
     For having developed and applied the hypothesis of rational expectations,
     and thereby having transformed macroeconomic analysis and deepened our
     understanding of economic policy.
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1994 John C. Harsanyi         United States  University of California
     John F. Nash Jr.         United States  Princeton University
     Reinhard Selten          Germany        Rheinische Friedrich-Wilhelms
                                             Universitat
     For their pioneering analysis of equilibria in the theory of non-
     cooperative games.
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1993 Robert W. Fogel          United States  University of Chicago
     Douglass C. North        United States  Washington University
     For having renewed research in economic history by applying economic
     theory and quantitative methods in order to explain economic and
     institutional change.
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1992 Gary S. Becker           United States  University of Chicago
     For having extended the domain of microeconomic analysis to a wide range
     of human behavior and interaction, including nonmarket behavior.
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1991 Ronald H. Coase          United Kingdom University of Chicago
     For his discovery and clarification of the significance of transaction
     costs and property rights for the institutional structure and functioning
     of the economy.
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1990 Harry M. Markowitz       United States  City University of New York
     Merton H. Miller         United States  University of Chicago
     William F. Sharpe        United States  Stanford University
     For their pioneering work in the theory of financial economics.
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1989 Trygve Haavelmo          Norway         University of Oslo
     For his clarification of the probability theory foundations of
     econometrics and his analyses of simultaneous economic structures.
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1988 Maurice Allais           France         Ecole Nationale Superieur
     For his pioneering contributions to the theory of markets and efficient
     utilization of resources.
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1987 Robert M. Solow          United States  MIT
     For his contributions to the theory of economic growth.
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1986 James M. Buchanan Jr.    United States  Center for Study of Public Choice
     For his development of the contractual and constitutional bases for the
     theory of economic and political decision-making.
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1985 Franco Modigliani        United States  MIT
     For his pioneering analyses of saving and of financial markets.
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1984 Richard Stone            United Kingdom University of Cambridge
     For having made fundamental contributions to the development of systems
     of systems of national accounts and hence greatly improved the basis for
     empirical economic analysis.
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1983 Gerard Debreu            United States  University of California
     For having incorporated new analytical methods into economic theory
     and for his rigorous reformulation of the theory of general equilibrium.
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1982 George J. Stigler        United States  University of Chicago
     For his seminal studies of industrial structures, functioning of markets
     and causes and effects of public regulation.
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1981 James Tobin              United States  Yale University
     For his analysis of financial markets and their relations to expenditure
     decisions, employment, production and prices.
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1980 Lawrence R. Klein        United States  University of Pennsylvania
     For the creation of econometric models and the application to the analysis
     of economic fluctuations and economic policies.
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1979 Theodore W. Schultz      United States  University of Chicago
     Sir Arthur Lewis         United Kingdom Princeton University
     For their pioneering research into economic development research with
     particular consideration of the problems of developing countries.
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1978 Herbert A. Simon         United States  Carnegie Mellon University
     For his pioneering research into the decision-making process within
     economic organizations.
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1977 Bertil Ohlin             Sweden         Stockholm School of Economics
     James E. Meade           United Kingdom University of Cambridge
     For their path breaking contribution to the theory of international trade
     and international capital movements.
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1976 Milton Friedman          United States  University of Chicago
     For his achievements in the fields of consumption analysis, monetary
     history and theory and for his demonstration of the complexity of
     stabilization policy.
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1975 Leonid Vitaliyevich
       Kantorovich            USSR           Academy of Sciences Moscow
     Tjalling C. Koopmans     United States  Yale University
     For their contributions to the theory of optimum allocation of resources.
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1974 Gunnar Myrdal            Sweden         No affiliation given
     Friedrich August
      von Hayek               United Kingdom No affiliation given
     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.
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1973 Wassily Leontief         United States  Harvard University
     For the development of the input-output method and for its application to
     important economic problems.
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1972 John R. Hicks            United Kingdom All Souls College
     Kenneth J. Arrow         United States  Harvard University
     For their pioneering contributions to general economic equilibrium theory
     and welfare theory.
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1971 Simon Kuznets            United States  Harvard University
     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.
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1970 Paul A. Samuelson        United States  MIT
     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.
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1969 Ragnar Frisch            Norway         University of Oslo
     Jan Tinbergen            Netherlands    Netherlands School of Economics
     For having developed and applied dynamic models for the analysis of
     economic processes.
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Source: nobelprize.org
Note: The economics prize is sponsored by the Swedish Central bank and is
called “The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred
Nobel.”

To contact the reporter on this story: Joel Rinneby in Stockholm at jrinneby@bloomberg.net

To contact the editor responsible for this story: Marco Babic at mbabic@bloomberg.net

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