CINXE.COM

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Riksbank Prize in Economic Sciences in Memory of Alfred Nobel </h1> </div> <div class="figcaption"> <p class="figcaption__caption"> For Angus Deaton – awarded the Prize in Economic Sciences 2015 – fly fishing has helped him think in new and creative ways </p> <p class="figcaption__attribution"> © Nobel Media. Photo: Alexander Mahmoud </p> </div> </section> <section class="nomination-intro"> <article class="content"> <header class="sub-section-header border-top"> <h4> About the prize </h4> </header> <div class="text"> <p>In 1968, Sveriges Riksbank (Sweden’s central bank) established the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. The prize is based on a donation received by the Nobel Foundation in 1968 from Sveriges Riksbank on the occasion of the bank’s 300th anniversary. The prize amount is the same as for the Nobel Prizes and is paid by the Riksbank. The first prize in economic sciences was awarded to Ragnar Frisch and Jan Tinbergen in 1969.</p> <p>The prize in economic sciences is awarded by the <a href="https://www.nobelprize.org/organization/royal-swedish-academy-of-sciences-economic-sciences/">Royal Swedish Academy of Sciences</a>, Stockholm, Sweden, according to the same principles as for the Nobel Prizes that have been awarded since 1901.</p> <p><a href="https://www.nobelprize.org/prizes/uncategorized/all-prizes-in-economic-sciences/">See all economic sciences laureates</a> or <a href="https://www.nobelprize.org/nomination/nomination-and-selection-of-laureates-in-economic-sciences/">learn about the nomination process.</a></p> </div> </article> <aside class="quick-facts"> <header class="sub-section-header border-top"> <h4> Quick facts </h4> </header> <ul class="factlist wp-block-list"> <li>Economic sciences prizes: 56</li> <li>Economic sciences laureates: 96</li> <li>Awarded women: 3</li> <li>Youngest laureate: 46</li> <li>Oldest laureate: 90</li> </ul> <p><a href="https://www.nobelprize.org/nobel_prizes/facts/economic-sciences/index.html">More facts and figures</a></p> </aside> </section> <section class="article-grid featured-content featured-content__color--default var-half-width-a "> <header class="section-header border-top"> <h3 class="section-header-h3">The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2024</h3> </header> <article itemscope itemtype="http://schema.org/BlogPosting" class="article -halfwidth-a "> <div class="content-wrapper"> <header class="content"> <div class="title title--small"> <h2 class="headline" itemprop="headline"> <a href="https://www.nobelprize.org/prizes/economic-sciences/2024/press-release/"> <p>They provided an explanation for why some countries are rich and others poor</p> </a> </h2> </div> </header> <div class="text"> <p>This year’s laureates have provided new insights into why there are such vast differences in prosperity between nations. One important explanation is persistent differences in societal institutions. By examining the various political and economic systems introduced by European colonisers, Daron Acemoglu, Simon Johnson and James Robinson have been able to demonstrate a relationship between institutions and prosperity. They have also developed theoretical tools that can explain why differences in institutions persist and how institutions can change.</p> </div> <div class="related"> <h3 class="related-title h5"> Related articles </h3> <ul> <li> <a href="https://www.nobelprize.org/prizes/economic-sciences/2024/press-release/" title="Press release"> Press release </a> </li> <li> <a href="https://www.nobelprize.org/prizes/economic-sciences/2024/popular-information/" title="Popular information: They provided an explanation for why some countries are rich and others poor"> Popular information: They provided an explanation for why some countries are rich and others poor </a> </li> <li> <a href="https://www.nobelprize.org/prizes/economic-sciences/2024/advanced-information/" title="Scientific background to the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2024"> Scientific background to the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2024 </a> </li> </ul> </div> </div> <figure class="featuredimage"> <a href="https://www.nobelprize.org/prizes/economic-sciences/2024/press-release/"><picture ><source data-srcset="https://www.nobelprize.org/uploads/2024/10/carrier_ek_2024_3x2-992x656.jpg" media="(min-width: 220px)" /><source data-srcset="https://www.nobelprize.org/uploads/2024/10/carrier_ek_2024_3x2-1520x1008.jpg" media="(min-width: 900px)" /><source data-srcset="https://www.nobelprize.org/uploads/2024/10/carrier_ek_2024_3x2.jpg" media="(min-width: 1400px)" /><img decoding="async" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="" /><noscript><img decoding="async" src="https://www.nobelprize.org/uploads/2024/10/carrier_ek_2024_3x2-1024x676.jpg" alt="" /></noscript></picture></a><figcaption class="figcaption"><p class="figcaption__attribution">© Johan Jarnestad/The Royal Swedish Academy of Sciences</p></figcaption> </figure> </article> </section> <section class="article-grid featured-content featured-content__color--primary var-half-width-a featured-content__colored"> <article itemscope itemtype="http://schema.org/BlogPosting" class="article -halfwidth-a "> <div class="content-wrapper"> <header class="content"> <div class="title title--small"> <h2 class="headline" itemprop="headline"> <a href="https://www.nobelprize.org/prizes/economic-sciences/2024/summary/"> <p>The 2024 economic sciences laureates</p> </a> </h2> </div> </header> <div class="text"> <p>The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2024 is awarded to <a href="https://www.nobelprize.org/prizes/economic-sciences/2024/acemoglu/facts/">Daron Acemoglu</a>, <a href="https://www.nobelprize.org/prizes/economic-sciences/2024/johnson/facts/">Simon Johnson</a> and <a href="https://www.nobelprize.org/prizes/economic-sciences/2024/robinson/facts/">James A. Robinson</a> “for studies of how institutions are formed and affect prosperity.”</p> <p>The laureates have contributed innovative research about what affects countries’ economic prosperity in the long run. Their insights regarding how institutions influence prosperity show that work to support democracy and inclusive institutions is an important way forward in the promotion of economic development.</p> </div> </div> <figure class="featuredimage"> <a href="https://www.nobelprize.org/prizes/economic-sciences/2024/summary/"><picture ><source data-srcset="https://www.nobelprize.org/uploads/2024/10/1_2_3-3_2-670cd57190f44-992x656.jpg" media="(min-width: 220px)" /><source data-srcset="https://www.nobelprize.org/uploads/2024/10/1_2_3-3_2-670cd57190f44-1520x1008.jpg" media="(min-width: 900px)" /><source data-srcset="https://www.nobelprize.org/uploads/2024/10/1_2_3-3_2-670cd57190f44-2048x1352.jpg" media="(min-width: 1400px)" /><img decoding="async" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Daron Acemoglu, Simon Johnson and James A. Robinson" /><noscript><img decoding="async" src="https://www.nobelprize.org/uploads/2024/10/1_2_3-3_2-670cd57190f44-1024x676.jpg" alt="Daron Acemoglu, Simon Johnson and James A. Robinson" /></noscript></picture></a><figcaption class="figcaption"><p class="figcaption__caption">Daron Acemoglu, Simon Johnson and James A. Robinson. </p> <p class="figcaption__attribution">Ill. Niklas Elmehed © Nobel Prize Outreach</p></figcaption> </figure> </article> </section> <section class="opinion-stage"> <header class="section-header border-top"> <h3 class="section-header-h3">Did you know? </h3> </header> <script type="text/javascript"> (function(d,s,id,u){ if (d.getElementById(id)) return; var js, sjs = d.getElementsByTagName(s)[0], t = Math.floor(new Date().getTime() / 1000000); js=d.createElement(s); js.id=id; js.async=1; js.src=u+'?'+t; sjs.parentNode.insertBefore(js, sjs); }(document, 'script', 'os-widget-jssdk', 'https://www.opinionstage.com/assets/loader.js')); </script> <div id="os-widget-1287727" class="os_poll" data-path="/polls/2947152" data-of="nobel" data-opinionstage-widget="86a12600-e957-466b-aab7-701af6952896"></div> </section> <section class="explore-laureates page-section"> <header class="section-header border-top"> <h3> Explore prizes and laureates </h3> </header> <form class="exploreform" id="6746cf14ca66c" method='GET' action=''> <div class="dropdown"> <label for="mobile-dropdown" class="screen-reader-text"> Select the category or categories you would like to filter by </label> <select id="mobile-dropdown" name="filtermobile"> <option value="physics" > Physics </option> <option value="chemistry" > Chemistry </option> <option value="medicine" > Medicine </option> <option value="literature" > Literature </option> <option value="peace" > Peace </option> <option value="economic-sciences" selected='selected' > Economic Sciences </option> </select> </div> <div class="selector"> <label class="screen-reader-text">Select the category or categories you would like to filter by</label> <div class="labelbutton" tabindex="0"> <label for="physics"> <input id="physics" name="filter" type="radio" value="physics" hidden> <span> Physics </span> </label> </div> <div class="labelbutton" tabindex="0"> <label for="chemistry"> <input id="chemistry" name="filter" type="radio" value="chemistry" hidden> <span> Chemistry </span> </label> </div> <div class="labelbutton" tabindex="0"> <label for="medicine"> <input id="medicine" name="filter" type="radio" value="medicine" hidden> <span> Medicine </span> </label> </div> <div class="labelbutton" tabindex="0"> <label for="literature"> <input id="literature" name="filter" type="radio" value="literature" hidden> <span> Literature </span> </label> </div> <div class="labelbutton" tabindex="0"> <label for="peace"> <input id="peace" name="filter" type="radio" value="peace" hidden> <span> Peace </span> </label> </div> <div class="labelbutton" tabindex="0"> <label for="economic-sciences"> <input id="economic-sciences" name="filter" type="radio" checked='checked' value="economic-sciences" hidden> <span> Economic Sciences </span> </label> </div> </div> <div class="incrementor"> <label for="increment-down" class="screen-reader-text"> Decrease the year by one </label> <button id="increment-down" class="increment-down" type="button"> – </button> <label for="increment-input" class="screen-reader-text"> Choose a year you would like to search in </label> <input id="increment-input" name="prize_year" type="text" maxlength="4" class="increment-input" placeholder="2023" value="2024"> <label for="increment-up" class="screen-reader-text"> Increase the year by one </label> <button id="increment-up" class="increment-up" type="button"> + </button> </div> <div class="submit"> <button type="submit"> Explore </button> </div> </form> </section> <div class="long-scroll-preloader prize-explorer-preloader" style="text-align: center; display: none" data-target="6746cf14ca66c"> <img style="display: inline-block" src="https://www.nobelprize.org/wp-content/themes/nobelprize/assets/images/spinner.gif"> </div> <div class="prize-explorer-content container search-results" data-target="6746cf14ca66c"> </div> <section class="article-grid featured-content featured-content__color--tertiary var-half-width-a featured-content__colored"> <header class="section-header border-top"> <h3 class="section-header-h3">Who did what?</h3> </header> <article itemscope itemtype="http://schema.org/BlogPosting" class="article -halfwidth-a "> <div class="content-wrapper"> <header class="content"> <div class="title"> <h2 class="headline" itemprop="headline"> <a href="https://www.nobelprize.org/image-pairing-economic-sciences/"> <p>How many economic sciences laureates can you match?</p> </a> </h2> </div> </header> <div class="text"> <p>Can you match the right research field to the right laureate? Have a try!</p> </div> </div> <figure class="featuredimage"> <a href="https://www.nobelprize.org/image-pairing-economic-sciences/"><picture ><source data-srcset="https://www.nobelprize.org/uploads/2021/09/eco-sciences-matching.jpg" media="(min-width: 220px)" /><source data-srcset="https://www.nobelprize.org/uploads/2021/09/eco-sciences-matching.jpg" media="(min-width: 900px)" /><source data-srcset="https://www.nobelprize.org/uploads/2021/09/eco-sciences-matching.jpg" media="(min-width: 1400px)" /><img decoding="async" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Matching pairs economic sciences" /><noscript><img decoding="async" src="https://www.nobelprize.org/uploads/2021/09/eco-sciences-matching.jpg" alt="Matching pairs economic sciences" /></noscript></picture></a> </figure> </article> </section> <section class="article-grid featured-content featured-content__color--primary var-half-width-a featured-content__colored"> <header class="section-header border-top"> <h3 class="section-header-h3">Questions and answers</h3> </header> <article itemscope itemtype="http://schema.org/BlogPosting" class="article -halfwidth-a "> <div class="content-wrapper"> <header class="content"> <div class="title"> <h2 class="headline" itemprop="headline"> <a href="https://www.nobelprize.org/frequently-asked-questions/#categories"> <p>What are the Nobel Prize categories?</p> </a> </h2> </div> </header> <div class="text"> <p>The Nobel Prize categories are physics, chemistry, physiology or medicine, literature and peace and were laid out in the will of Alfred Nobel. Find out more in the FAQ.</p> </div> </div> <figure class="featuredimage"> <a href="https://www.nobelprize.org/frequently-asked-questions/#categories"><picture ><source data-srcset="https://www.nobelprize.org/images/123776-landscape-medium-2x.jpg" media="(min-width: 220px)" /><source data-srcset="https://www.nobelprize.org/images/123776-landscape-large-2x.jpg" media="(min-width: 900px)" /><source data-srcset="https://www.nobelprize.org/images/123776-landscape-x-large-2x.jpg" media="(min-width: 1400px)" /><img decoding="async" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="The Nobel Prize medal." /><noscript><img decoding="async" src="https://www.nobelprize.org/images/123776-landscape-x-large.jpg" alt="The Nobel Prize medal." /></noscript></picture></a><figcaption class="figcaption"><p class="figcaption__caption">The Nobel Prize medal.</p> <p class="figcaption__attribution">© Nobel Prize Outreach. Photo: Clément Morin.</p></figcaption> </figure> </article> </section> <section class="page-hero -exposed page-hero__variation--d context-component -color-option-default"> <header class="section-header border-top"> <h3 class="section-header-h3">Nobel Prizes and laureates</h3> </header> <div class="bg hero lazyload" data-bgset="https://www.nobelprize.org/images/5660-hero-tablet-2x.jpg [(min-width: 220px)] | https://www.nobelprize.org/images/5660-hero-tablet-2x.jpg [(min-width: 900px)] | https://www.nobelprize.org/images/5660-hero-desktop-2x.jpg [(min-width: 1400px)]" data-sizes="auto"> </div> <noscript> <div class="bg hero" style="background: url(https://www.nobelprize.org/images//5660-content-landscape-desktop.jpg)" > </div> </noscript> <div class="figcaption"> <p class="figcaption__caption"> Laureate in economic sciences Bengt Holmström likes the Chinese board game GO, which begins with simple rules but gets difficult as one progresses. </p> <p class="figcaption__attribution"> Photo: Nobel Prize Museum </p> </div> <div class="blurb"> <a href="https://www.nobelprize.org/prizes/lists/all-prizes-in-economic-sciences/" class="hero-link"> <div class="sublead"> </div> <h1 class="title "> <a href="https://www.nobelprize.org/prizes/lists/all-prizes-in-economic-sciences/">All prizes in economic sciences</a> </h1> </a> <div class="hero-btn-wrapper"> <a class="hero-btn" href="https://www.nobelprize.org/prizes/lists/all-prizes-in-economic-sciences/"> See the full list of economic sciences prizes and laureates </a> </div> </div> </section> <section class="links"> <header class="section-header border-top"> <h3 class="section-header-h3">Articles in economic sciences</h3> </header> <ul class="linkset"> <li itemprop="name" class="border-top"> <p><a href="https://www.nobelprize.org/prizes/themes/the-tinbergen-brothers/">The Tinbergen brothers</a> </p> </a> </li> <li itemprop="name" class="border-top"> <p><a href="https://www.nobelprize.org/prizes/themes/the-sveriges-riksbank-prize-in-economic-sciences-in-memory-of-alfred-nobel-1969-2007/">The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1969-2007</a> </p> </a> </li> </ul> </section> <section class="most-popular-laureates"> <header class="section-header border-top"> <h3> Featured laureates </h3> </header> <article class="laureate border-top" itemscope itemtype="http://schema.org/Person"> <figure class="content-img"> <a href="/prizes/economic-sciences/1994/nash/"> <picture ><source data-srcset="https://www.nobelprize.org/images/nash-13457-portrait-mini-2x.jpg" media="(min-width: 220px)" /><source data-srcset="https://www.nobelprize.org/images/nash-13457-portrait-small-2x.jpg" media="(min-width: 900px)" /><source data-srcset="https://www.nobelprize.org/images/nash-13457-portrait-medium-2x.jpg" media="(min-width: 1400px)" /><img decoding="async" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="John F. Nash Jr." /><noscript><img decoding="async" src="https://www.nobelprize.org/images/nash-13457-portrait-medium.jpg" alt="John F. Nash Jr." /></noscript></picture> </a> </figure> <div class="content"> <h4 itemprop="name"> <a href="/prizes/economic-sciences/1994/nash/" title="John F. Nash Jr." itemprop="url"> John F. Nash Jr. </a> </h4> <span> <a href="/prizes/economic-sciences/1994/nash/"> The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1994 </a> </span> <q itemscope itemtype="http://schema.org/Quotation">for their pioneering analysis of equilibria in the theory of non-cooperative games.</q> </div> </article> <article class="laureate border-top" itemscope itemtype="http://schema.org/Person"> <figure class="content-img"> <a href="/prizes/economic-sciences/2017/thaler/"> <picture ><source data-srcset="https://www.nobelprize.org/images/thaler-15229-portrait-mini-2x.jpg" media="(min-width: 220px)" /><source data-srcset="https://www.nobelprize.org/images/thaler-15229-portrait-small-2x.jpg" media="(min-width: 900px)" /><source data-srcset="https://www.nobelprize.org/images/thaler-15229-portrait-medium-2x.jpg" media="(min-width: 1400px)" /><img decoding="async" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Richard H. Thaler" /><noscript><img decoding="async" src="https://www.nobelprize.org/images/thaler-15229-portrait-medium.jpg" alt="Richard H. Thaler" /></noscript></picture> </a> </figure> <div class="content"> <h4 itemprop="name"> <a href="/prizes/economic-sciences/2017/thaler/" title="Richard H. Thaler" itemprop="url"> Richard H. Thaler </a> </h4> <span> <a href="/prizes/economic-sciences/2017/thaler/"> The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2017 </a> </span> <q itemscope itemtype="http://schema.org/Quotation">for his contributions to behavioural economics.</q> </div> </article> <article class="laureate border-top" itemscope itemtype="http://schema.org/Person"> <figure class="content-img"> <a href="/prizes/economic-sciences/2002/kahneman/"> <picture ><source data-srcset="https://www.nobelprize.org/images/kahneman-13673-portrait-mini-2x.jpg" media="(min-width: 220px)" /><source data-srcset="https://www.nobelprize.org/images/kahneman-13673-portrait-small-2x.jpg" media="(min-width: 900px)" /><source data-srcset="https://www.nobelprize.org/images/kahneman-13673-portrait-medium-2x.jpg" media="(min-width: 1400px)" /><img decoding="async" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Daniel Kahneman" /><noscript><img decoding="async" src="https://www.nobelprize.org/images/kahneman-13673-portrait-medium.jpg" alt="Daniel Kahneman" /></noscript></picture> </a> </figure> <div class="content"> <h4 itemprop="name"> <a href="/prizes/economic-sciences/2002/kahneman/" title="Daniel Kahneman" itemprop="url"> Daniel Kahneman </a> </h4> <span> <a href="/prizes/economic-sciences/2002/kahneman/"> The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2002 </a> </span> <q itemscope itemtype="http://schema.org/Quotation">for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty.</q> </div> </article> <article class="laureate border-top" itemscope itemtype="http://schema.org/Person"> <figure class="content-img"> <a href="/prizes/economic-sciences/1998/sen/"> <picture ><source data-srcset="https://www.nobelprize.org/images/sen-13506-portrait-mini-2x.jpg" media="(min-width: 220px)" /><source data-srcset="https://www.nobelprize.org/images/sen-13506-portrait-small-2x.jpg" media="(min-width: 900px)" /><source data-srcset="https://www.nobelprize.org/images/sen-13506-portrait-medium-2x.jpg" media="(min-width: 1400px)" /><img decoding="async" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Amartya Sen" /><noscript><img decoding="async" src="https://www.nobelprize.org/images/sen-13506-portrait-medium.jpg" alt="Amartya Sen" /></noscript></picture> </a> </figure> <div class="content"> <h4 itemprop="name"> <a href="/prizes/economic-sciences/1998/sen/" title="Amartya Sen" itemprop="url"> Amartya Sen </a> </h4> <span> <a href="/prizes/economic-sciences/1998/sen/"> The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1998 </a> </span> <q itemscope itemtype="http://schema.org/Quotation">for his contributions to welfare economics.</q> </div> </article> <article class="laureate border-top" itemscope itemtype="http://schema.org/Person"> <figure class="content-img"> <a href="/prizes/economic-sciences/1974/hayek/"> <picture ><source data-srcset="https://www.nobelprize.org/images/hayek-13256-portrait-mini-2x.jpg" media="(min-width: 220px)" /><source data-srcset="https://www.nobelprize.org/images/hayek-13256-portrait-small-2x.jpg" media="(min-width: 900px)" /><source data-srcset="https://www.nobelprize.org/images/hayek-13256-portrait-medium-2x.jpg" media="(min-width: 1400px)" /><img decoding="async" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Friedrich August von Hayek" /><noscript><img decoding="async" src="https://www.nobelprize.org/images/hayek-13256-portrait-medium.jpg" alt="Friedrich August von Hayek" /></noscript></picture> </a> </figure> <div class="content"> <h4 itemprop="name"> <a href="/prizes/economic-sciences/1974/hayek/" title="Friedrich August von Hayek" itemprop="url"> Friedrich August von Hayek </a> </h4> <span> <a href="/prizes/economic-sciences/1974/hayek/"> The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1974 </a> </span> <q itemscope itemtype="http://schema.org/Quotation">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.</q> </div> </article> <article class="laureate border-top" itemscope itemtype="http://schema.org/Person"> <figure class="content-img"> <a href="/prizes/economic-sciences/2009/ostrom/"> <picture ><source data-srcset="https://www.nobelprize.org/images/ostrom-15149-portrait-mini-2x.jpg" media="(min-width: 220px)" /><source data-srcset="https://www.nobelprize.org/images/ostrom-15149-portrait-small-2x.jpg" media="(min-width: 900px)" /><source data-srcset="https://www.nobelprize.org/images/ostrom-15149-portrait-medium-2x.jpg" media="(min-width: 1400px)" /><img decoding="async" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Elinor Ostrom" /><noscript><img decoding="async" src="https://www.nobelprize.org/images/ostrom-15149-portrait-medium.jpg" alt="Elinor Ostrom" /></noscript></picture> </a> </figure> <div class="content"> <h4 itemprop="name"> <a href="/prizes/economic-sciences/2009/ostrom/" title="Elinor Ostrom" itemprop="url"> Elinor Ostrom </a> </h4> <span> <a href="/prizes/economic-sciences/2009/ostrom/"> The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2009 </a> </span> <q itemscope itemtype="http://schema.org/Quotation">for her analysis of economic governance, especially the commons.</q> </div> </article> </section> <section class="article-grid featured-content featured-content__color--default var-one-third "> <header class="section-header border-top"> <h3 class="section-header-h3">Discover more</h3> </header> <article itemscope itemtype="http://schema.org/BlogPosting" class="article -one-third"> <div class="content-wrapper"> <header class="content"> <div class="title"> <h2 class="headline h3" itemprop="headline"> <a href="https://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2015/press.html"> How the pull of individuals can move a whole system </a> </h2> </div> </header> <div class="text"> <p>Angus Deaton employed theory, data collection and statistics together to see how consumption, poverty, and welfare are related. His conclusion? We need to understand individual consumption choices before we can design economic policy that promotes welfare and reduces poverty.</p> </div> </div> <figure class="featuredimage"> <a href="https://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2015/press.html"><picture ><source data-srcset="https://www.nobelprize.org/images/pf-angus-deaton-vasamuseum-1166-landscape-medium-2x.jpg" media="(min-width: 220px)" /><source data-srcset="https://www.nobelprize.org/images/pf-angus-deaton-vasamuseum-1166-landscape-large-2x.jpg" media="(min-width: 900px)" /><source data-srcset="https://www.nobelprize.org/images/pf-angus-deaton-vasamuseum-1166-landscape-x-large-2x.jpg" media="(min-width: 1400px)" /><img decoding="async" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Angus Deaton visiting the Vasa Museum during the Nobel week in Stockholm." /><noscript><img decoding="async" src="https://www.nobelprize.org/images/pf-angus-deaton-vasamuseum-1166-landscape-x-large.jpg" alt="Angus Deaton visiting the Vasa Museum during the Nobel week in Stockholm." /></noscript></picture></a><figcaption class="figcaption"><p class="figcaption__caption">Angus Deaton visiting the Vasa Museum in Stockholm during Nobel Week.</p> <p class="figcaption__attribution">© Nobel Media. Photo: Pi Frisk</p></figcaption> </figure> </article> <article itemscope itemtype="http://schema.org/BlogPosting" class="article -one-third"> <div class="content-wrapper"> <header class="content"> <div class="title"> <h2 class="headline h3" itemprop="headline"> <a href="/mediaplayer?id=429"> On mathematics, the prize and ‘A Beautiful Mind’ </a> </h2> </div> </header> <div class="text"> <p>Watch this interview with Dr. John Nash, who received the Prize in Economic Sciences in 1994. He talks about the impact the prize has had on his life, his talent for mathematics as a child and about the movie about his life, ‘A Beautiful Mind’.</p> </div> </div> <figure class="featuredimage"> <a href="/mediaplayer?id=429"><picture ><source data-srcset="https://www.nobelprize.org/images/nash-13457-landscape-medium-2x.jpg" media="(min-width: 220px)" /><source data-srcset="https://www.nobelprize.org/images/nash-13457-landscape-large-2x.jpg" media="(min-width: 900px)" /><source data-srcset="https://www.nobelprize.org/images/nash-13457-landscape-x-large-2x.jpg" media="(min-width: 1400px)" /><img decoding="async" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="John F. Nash Jr." /><noscript><img decoding="async" src="https://www.nobelprize.org/images/nash-13457-landscape-x-large.jpg" alt="John F. Nash Jr." /></noscript></picture></a><figcaption class="figcaption"><p class="figcaption__caption">John F. Nash Jr., awarded the 1994 Prize in Economic Sciences.</p> <p class="figcaption__attribution">Photo: Nobel Foundation archive</p></figcaption> </figure> </article> <article itemscope itemtype="http://schema.org/BlogPosting" class="article -one-third"> <div class="content-wrapper"> <header class="content"> <div class="title"> <h2 class="headline h3" itemprop="headline"> <a href="/prizes/economics/2016/summary/"> Contracts: a glue for modern economies </a> </h2> </div> </header> <div class="text"> <p>Read how ‘innumerable contracts’ hold modern economies together. The recipients of the 2016 Prize in Economic Sciences created theoretical tools for understanding real-life contracts and institutions, as well as potential pitfalls in contract design.</p> </div> </div> <figure class="featuredimage"> <a href="/prizes/economics/2016/summary/"><picture ><source data-srcset="https://www.nobelprize.org/images/je-hart-signing-chair-481-landscape-medium-2x.jpg" media="(min-width: 220px)" /><source data-srcset="https://www.nobelprize.org/images/je-hart-signing-chair-481-landscape-large-2x.jpg" media="(min-width: 900px)" /><source data-srcset="https://www.nobelprize.org/images/je-hart-signing-chair-481-landscape-x-large-2x.jpg" media="(min-width: 1400px)" /><img decoding="async" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Bengt Holmström and Oliver Hart autograph a chair" /><noscript><img decoding="async" src="https://www.nobelprize.org/images/je-hart-signing-chair-481-landscape-x-large.jpg" alt="Bengt Holmström and Oliver Hart autograph a chair" /></noscript></picture></a><figcaption class="figcaption"><p class="figcaption__caption">Oliver Hart (left) and Bengt Holmström autograph a chair at the Nobel Museum.</p> <p class="figcaption__attribution">Photo: Jonas Ekströmer/TT</p></figcaption> </figure> </article> </section> <section class="newsletter-signup"> <div class="wrapper"> <div class="blurb"> <h3>Sign up for the “Monthly” newsletter</h3> <p><p>Join thousands of global subscribers enjoying the free monthly Nobel Prize highlights, trivia and up-to-date information.</p> </p> </div> <form action="https://app.rule.io/widget/subscriber" method="POST"> <label for="newsletteremail" class="screen-reader-text"> Your e-mail address </label> <input name="rule_email" id="newsletteremail" placeholder="Your e-mail address" required type="email"> <input type="hidden" name="tags[]" value="25327"> <input type="hidden" name="token" value="0b7e81c2-36b72d5-bb09466-94f58a6-a5535bb-c51"> 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