# The works of every Nobel Memorial Prize winner in Economics

Published on in economics

I have always been fascinated by economics. I chose economics subjects in my undergrad, read econ books on holidays, and for years now, I have gotten my weekly fix of popular economics from Freakonomics, Planet Money, and Public Lectures at LSE. I even went back to school to pursue a master’s degree that put economic theory to use in technology policy.

Time and time again, I have learnt about incredible Nobel Memorial Prize winning ideas in economics. So I had a thought:

**what if I went through and learnt about the seminal work of every winner of the Nobel Memorial Prize for Economics?**That is what this post is about. It’s a way for me to keep track of every winning theory since the prize started in 1969. I don’t know how long it is going to take me to get through this list, but I’m going to try…Year | Laureate | Rationale | Done |

1969 | Ragnar Frisch | "for having developed and applied dynamic models for the analysis of economic processes" | |

Jan Tinbergen |
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1970 | Paul 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" | |

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" | Done |

1972 | John Hicks | "for their pioneering contributions to general economic equilibrium theory and welfare theory." | Done |

Kenneth Arrow |
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1973 | Wassily Leontief | "for the development of the input-output method and for its application to important economic problems" | |

1974 | Gunnar Myrdal | "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." | |

Friedrich Hayek |
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1975 | Leonid Kantorovich | "for their contributions to the theory of optimum allocation of resources" | |

Tjalling Koopmans |
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1976 | Milton Friedman | "for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilisation policy" | Done |

1977 | Bertil Ohlin | "for their pathbreaking contribution to the theory of international trade and international capital movements" | |

James Meade |
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1978 | Herbert A. Simon | "for his pioneering research into the decision-making process within economic organizations" | |

1979 | Theodore Schultz | "for their pioneering research into economic development research with particular consideration of the problems of developing countries." | |

Arthur Lewis |
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1980 | Lawrence Klein | "for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies" | |

1981 | James Tobin | "for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices" | |

1982 | George Stigler | "for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation" | |

1983 | Gérard Debreu | "for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium" | |

1984 | 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" | |

1985 | Franco Modigliani | "for his pioneering analyses of saving and of financial markets" | |

1986 | James M. Buchanan | "for his development of the contractual and constitutional bases for the theory of economic and political decision-making" | |

1987 | Robert Solow | "for his contributions to the theory of economic growth" | |

1988 | Maurice Allais | "for his pioneering contributions to the theory of markets and efficient utilization of resources" | |

1989 | Trygve Haavelmo | "for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures" | |

1990 | Harry Markowitz | "for their pioneering work in the theory of financial economics" | |

Merton Miller |
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William F. Sharpe |
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1991 | Ronald Coase | "for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy" | Done |

1992 | Gary Becker | "for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including non-market behaviour" | |

1993 | Robert Fogel | "for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change" | Done |

Douglass North |
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1994 | John Harsanyi | "for their pioneering analysis of equilibria in the theory of non-cooperative games." | Done |

John Forbes Nash |
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Reinhard Selten |
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1995 | Robert Lucas, Jr. | "for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy" | |

1996 | James Mirrlees | "for their fundamental contributions to the economic theory of incentives under asymmetric information" | |

William Vickrey |
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1997 | Robert C. Merton | "for a new method to determine the value of derivatives." | |

Myron Scholes |
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1998 | Amartya Sen | "for his contributions to welfare economics" | |

1999 | Robert Mundell | "for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas" | |

2000 | James Heckman | "for his development of theory and methods for analyzing selective samples" | |

Daniel McFadden | "for his development of theory and methods for analyzing discrete choice" | ||

2001 | George Akerlof | "for their analyses of markets with asymmetric information" | Done |

Michael Spence |
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Joseph E. Stiglitz |
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2002 | Daniel Kahneman | "for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty" | Done |

Vernon L. Smith | "for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms" | ||

2003 | Robert F. Engle | "for methods of analyzing economic time series with time-varying volatility (ARCH)" | |

Clive Granger | "for methods of analyzing economic time series with common trends (cointegration)" | ||

2004 | Finn E. Kydland | "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles." | |

Edward C. Prescott |
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2005 | Robert J. Aumann | "for having enhanced our understanding of conflict and cooperation through game-theory analysis." | |

Thomas C. Schelling | |||

2006 | Edmund S. Phelps | "for his analysis of intertemporal tradeoffs in macroeconomic policy" | |

2007 | Leonid Hurwicz | "for having laid the foundations of mechanism design theory" | |

Eric S. Maskin |
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Roger B. Myerson |
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2008 | Paul Krugman | "for his analysis of trade patterns and location of economic activity" | |

2009 | Elinor Ostrom | "for her analysis of economic governance, especially the commons" | |

Oliver E. Williamson | "for his analysis of economic governance, especially the boundaries of the firm" | ||

2010 | Peter A. Diamond | "for their analysis of markets with search frictions" | |

Dale T. Mortensen |
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Christopher A. Pissarides |
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2011 | Thomas J. Sargent | "for their empirical research on cause and effect in the macroeconomy" | |

Christopher A. Sims |
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2012 | Alvin E. Roth | "for the theory of stable allocations and the practice of market design." | |

Lloyd S. Shapley |
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2013 | Eugene F. Fama | "for their empirical analysis of asset prices." | |

Lars Peter Hansen |
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Robert J. Shiller |
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2014 | Jean Tirole | "for his analysis of market power and regulation". | |

2015 | Angus Deaton | "for his analysis of consumption, poverty, and welfare". | |

2016 | Oliver Hart | "for their contributions to contract theory". | |

Bengt Holmström |

This table was originally copied from Wikipedia’s List of Nobel Memorial Prize laureates in Economics [Accessed in March, 2017].