The works of every Nobel Memorial Prize winner in Economics

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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
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
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."
Done
Friedrich Hayek
1975
Leonid Kantorovich
"for their contributions to the theory of optimum allocation of resources"
Tjalling Koopmans
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
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
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
William F. Sharpe
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
1994
John Harsanyi
"for their pioneering analysis of equilibria in the theory of non-cooperative games."
Done
John Forbes Nash
Reinhard Selten
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
1997
Robert C. Merton
"for a new method to determine the value of derivatives."
Myron Scholes
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
Joseph E. Stiglitz
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
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
Roger B. Myerson
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
Christopher A. Pissarides
2011
Thomas J. Sargent
"for their empirical research on cause and effect in the macroeconomy"

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

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

Lars Peter Hansen
Robert J. Shiller
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].