Year Laureate Field Prize Citation

1969 Ragnar Frisch

Oslo University

For having
developed and
applied dynamic
Econometrics models for the
analysis of
economic
processes
Jan Tinbergen

The Netherland
School of
Economics
1970 Paul A. Samuelson Partial and General For the scientific
Equilibrium Theory work through which
he has developed
static and dynamic
economic theory
and actively
contributed to
raising the level of
analysis in
economic science

Massachusetts
Institute of
Technology
1971 Simon Kuznets Economic Growth For his empirically
and Economic founded
History interpretation of
economic growth
which has led to
new and deepened
insight into the
economic and
social structure and
process of
development

Harvard University

1972 Sir John R. Hicks

Oxford University

For their pioneering

contributions to
General Equilibrium
general economic
Theory
equilibrium theory
and welfare theory
Kenneth J. Arrow

Harvard University
1973 Wassily Leontief Input-Output For the
Analysis development of the
input-output method
and for its
application to
important economic
problems
Harvard University

1974 Gunnar Myrdal

For their pioneering

work in the theory
of money and
economic
Macroeconomics fluctuations and for
and Institutional their penetrating
University of Economics analysis of the
Stockholm interdependence of
economic, social
and institutional
Friedrich von phenomena
Hayek
University of
Freiburg
1975 Leonid
Kantorovich
Academy of
Sciences,
For their
Moscow
Theory of Optimum contributions to the
Allocation of theory of optimum
Resources allocation of
resources
Tjalling C.
Koopmans
Yale University
1976 Milton Friedman Macroeconomics For his
achievements in the
fields of
consumption
analysis, monetary
history and theory
and for his
demonstration of
the complexity of
stabilization policy

University of
Chicago
1977 Bertil Ohlin
Stockholm School
of Economics For their
pathbreaking
contribution to the
International
theory of
Economics
international trade
James E. Meade and international
capital movements
Cambridge
University
1978 Herbert A. Simon Administrative For his pioneering
(Management) research into the
Science decision-making
process within
economic
organizations
Carnegie-Mellon
University

1979 Theodore W.
Schultz
For their pioneering
research into
University of economic
Chicago development, with
Development
particular
Economics
consideration of the
Sir Arthur Lewis problems of
developing
Princeton University countries

1980 Lawrence R. Klein Macroeconometrics For the creation of

econometric
models and their
application to the
analysis of
economic
fluctuations and
economic policies

University of
Pennsylvania
1981 James Tobin Macroeconomics For his analysis of
financial markets
and their relations
to expenditure
decisions,
employment,
production and
prices

Yale University
1982 George J. Stigler Industrial For his seminal
Organization studies of industrial
structure,
functioning of
markets and causes
and effects of public
regulation

University of
Chicago
1983 Gerard Debreu General Equilibrium For having
Theory incorporated new
analytical methods
into economic
theory and for his
rigorous
reformulation of the
theory of general
equilibrium
University of
California,
Berkeley
1984 Sir Richard Stone National Income For having made
Accounting fundamental
contributions to the
development of
systems of national
accounts and
hence greatly
improved the basis
for empirical
economic analysis

Cambridge
University
1985 Franco Modigliani Macroeconomics For his pioneering
analyses of saving
and of financial
markets
Massachusetts
Institute of
Technology
1986 James M. Public Finance For his
Buchanan, Jr. development of the
contractual and
constitutional bases
for the theory of
economic and
political decision-
making

George Mason
University
1987 Robert M. Solow Economic Growth For his
Theory contributions to the
theory of economic
Massachusetts
growth
Institute of
Technology
1988 Maurice Allais Partial and General For his pioneering
Equilibrium Theory contributions to the
theory of markets
and efficient
utilization of
cole Nationale resources
Suprieur
des Mines de Paris

1989 Trygve Haavelmo Econometrics For his clarification

of the probability
theory foundations
of econometrics
and his analyses of
simultaneous
economic structures

University of Oslo

1990 Harry M.
Markowitz
City University of
New York

For their pioneering

Financial work in the theory
Economics of financial
economics
1990

Merton M. Miller For their pioneering

Financial work in the theory
University of Economics of financial
Chicago economics

William F. Sharpe

Stanford University

1991 Ronald H. Coase Theory of For his discovery

Institutions and clarification of
the significance of
transaction costs
and property rights
for the institutional
structure and
functioning of the
economy

University of
Chicago
1992 Gary S. Becker Microeconomics For having
and Economic extended the
Sociology domain of
microeconomic
analysis to a wide
range of human
behavior and
interaction,
including
nonmarket behavior

University of
Chicago
1993 Robert W. Fogel

For having renewed

research in
economic history by
applying economic
University of
theory and
Chicago Economic History
quantitative
methods in order to
explain economic
Douglass C. North and institutional
change
Washington
University, St. Louis

1994 John C. Harsanyi

University of
California,
Berkeley

John F. Nash
For their pioneering
Princeton analysis of
University Game Theory equilibria in the
theory of non-
cooperative games
 For their pioneering
analysis of
Game Theory equilibria in the
theory of non-
cooperative games
Reinhard Selten

Rheinische
Friedrich-
Wilhelms-
Universitt, Bonn

1995 Robert E. Lucas, Macroeconomics For having

Jr. developed and
applied the
hypothesis of
rational
expectations, and
thereby having
transformed
macroeconomic
analysis and
deepened our
understanding of
economic policy

University of
Chicago
1996 James A. Mirrlees

University of For their

Cambridge fundamental
contributions to the
Economics of
economic theory of
Information
incentives under
William Vickrey
asymmetric
information
Columbia University

1997 Robert C. Merton

Harvard University
For a new method
Financial
to determine the
Economics
value of derivatives
Myron S. Scholes

Stanford University

1998 Amartya Sen Welfare Economics For his

contributions to
welfare economics
University of
Cambridge
1999 Robert A. Mundell International For his analysis of
monetary and fiscal
policy under
different exchange
rate regimes and
his analysis of
optimum currency
areas

Columbia University Macroeconomics

2000 James J. Heckman For his
development of
theory and methods
for analyzing
selective samples

University of
Chicago

For his
Econometrics development of
theory and methods
for analyzing
discrete choice

Daniel L.
McFadden
University of
California

2001 George A. Akerlof

University of
California

A. Michael Spence

Stanford University

Economics of
information For their analyses
of markets with
asymmetric
information

Joseph E.
Stiglitz
Columbia
University

2002 Daniel Kahneman For having

integrated insights
from psychological
research into
economic science,
especially
concerning human
judgment and
decision-making
under uncertainty

Economic
psychology and
experimental
economics
 Princeton University

Economic
psychology and For having
experimental established
economics laboratory
experiments as a
tool in empirical
economic analysis,
especially in the
study of alternative
market mechanisms

Vernon L. Smith

George Mason
University
2003 Robert F. Engle For methods of
analyzing economic
time series with
time-varying
volatility (ARCH)

New York University

For methods of
Econometrics analyzing
economic time
series with
common trends
(cointegration)

Clive W. J.
Granger
University of
California
2004 Finn E. Kydland

Carnegie Mellon
For their
University
contributions to
dynamic
macroeconomics:
the time
Macroeconomics
consistency of
economic policy
and the driving
forces behind
business cycles
 dynamic
macroeconomics:
the time
Macroeconomics
consistency of
economic policy
and the driving
Edward C. forces behind
PrescottArizona business cycles
State University

2005 Robert J.
AumannHebrew
University of
Jerusalem
For having
enhanced our
understanding of
Game Theory conflict and
cooperation through
game-theory
analysis
Thomas C.
Schelling
University of
Maryland
2006 Edmund S. Macroeconomics For his analysis of
PhelpsColumbia intertemporal
University tradeoffs in
macroeconomic
policy

2007 Leonid Hurwicz Microeconomics For having laid the

foundations of
mechanism design
University of
theory
Minnesota

Eric S. Maskin

Princeton University

Roger B. Myerson

University of
Chicago