October 11, 2021 Nobel Prize in Economics winners were announced, three U.S. economists David Card, Joshua D. Angrist , Guido W. Imbens **** with the winner of the award.
The list of Nobel Prize winners in economics is as follows:
1. 1969 Jane Tinbergen (Netherlands) Ragnar Frisch (Norway) developed a dynamic model to analyze economic processes. Ragnar Frisch is the founder of econometrics and Jane Tinbergen is the father of econometric model builders.
2. 1970 Paul Ann Summerson (USA) developed mathematical and dynamic economic theory and raised economic science to a new level. His research covered the whole field of economics.
3. 1971 Simon Kuzlitz (USA) made great contributions to the study of demographic trends and the relationship of population structure to economic growth and income distribution.
4, 1972 John Hicks (UK) Kenneth Joseph Arrow (USA) made an in-depth study of the theory of economic equilibrium and the theory of welfare.
5, 1973 Vasily Leontiev (USSR) developed the input-output method, which has been used in many important economic problems.
6, 1974 F. von Hayek (Australia) Zoner Muldaur (Sweden) delved into the theory of money and economic fluctuations and analyzed in depth the interdependence of economic, social and institutional phenomena.
7. 1975 Leonid Kantorovich (USSR) created the globally acclaimed Essentials of Linear Programming; Jarlin Koopmans (USA) contributed to the theory of optimal allocation of resources by successfully applying mathematical statistics to econometrics.
8. 1976 Milton Friedman (USA) founded the theory of monetarism and put forward the permanent income hypothesis.
9. 1977 Gothard Betty Olin (Sweden) and James Edward Mead (UK) made pioneering research on international trade theory and international capital flows.
10. 1978 Herbert A. Simon (USA) studied the decision-making process within economic organizations, and this basic theory of the decision-making process was recognized as an insight into practical decision-making in corporate enterprises.
11. 1979 William Arthur Lewis (USA) Theodore Schultz (USA) made a pioneering study of economic development, which provided an in-depth study of the problems that developing countries should take into account in their economic development.
12. 1980 Lawrence Roe Klein (USA) established a mathematical model of the economic system based on economic theory and empirical estimates made on the basis of actual data in the real economy.
13. 1981 James Tobin (USA) elaborated and developed Keynes's series of theories and macro models of fiscal and monetary policy, and made important contributions to the analysis of financial markets and related expenditure decisions, employment, products and prices.
14, 1982 George Stigler (USA) made creative and significant contributions in the areas of industrial structure, the role of the market, and the role and impact of public *** economic regulations.
15, 1983 Loral de Bruy (USA) generalized the theory of Pareto optimality and created the existence theorem of economic and social equilibrium for the relevant goods.
16, 1984 Richard John Stone (U.K.), the father of national economic statistics, made a seminal contribution to the development of the System of National Accounts, which greatly improved the basis for the analysis of economic practice.
17, 1985 Franco Modigliani (Italy) was the first to propose the life-cycle hypothesis of savings, which has been widely used in the study of household and corporate savings.
18, 1986 James Buchanan (USA) combined the analysis of political decision-making with economic theory, so that economic analysis was extended and applied to the choice of socio-political regulations.
19, 1987 Robert Solow (USA) contributed to growth theory by suggesting that long-run economic growth relies primarily on technological progress rather than on inputs of capital and labor.
20. 1988 Maurice Allais (France) made a pioneering contribution to market theory and the efficient use of resources, and re-explained the general equilibrium theory in a systematic way.
21, 1989 Trevor Havimer (Norway) established the foundational guiding principles of modern econometrics.
22, 1990 Merton Miller (USA) Harry Markowitz (USA) William Sharp (USA) did pioneering work in financial economics.
23, 1991 Ronald Coase (UK) revealed and clarified the importance of transaction costs and property rights in the structure and function of economic systems.
24, 1992 Gary Baker (USA) extended microeconomic theory to the analysis of human interactions, including market behavior.
25. 1993 Douglas North (USA) established the "theory of institutional change" including property rights theory, state theory and ideology theory;? Robert Fogel (USA) reinterpreted the past process of economic development with new theories of economic history and mathematical tools.
26, 1994 John Nash (USA) John Hysani (USA) Reinhard Zelten (Germany) made pioneering contributions to the theory of equilibrium analysis of non-cooperative games, which had a significant impact on game theory and economics.
27, 1995 Robert Lucas (USA) advocated and developed the theory of rational expectations and the use of macroeconomic research, deepened the understanding of economic policy, and provided unique insights into economic cycle theory.
28, 1996 James Morris (UK) made significant contributions to the field of information economics theory, especially the theory of economic incentives under the condition of asymmetric information; William Vickrey (USA) made significant contributions to information economics, incentive theory, game theory and so on.
29, 1997 Robert Merton (USA) made further weakening of the assumptions on which the Black-Scholes formula relies and generalized it in many ways; Myron Scholes (USA) gave the famous Black-Scholes option pricing formula, which has become a financial institution's ideological approach involving new financial products.
30, 1970 Amartya Sen (India) contributed to several major issues in welfare economics, including the theory of social choice, the definition of welfare and poverty criteria, and the study of deprivation.
31, 1999 Robert Mendel's (Canada) analysis of monetary and fiscal policy under different exchange rate regimes and of the optimal currency circulation area earned him this distinction.
32, 2000 James J. Heckman (USA), Daniel L. McFadden (USA) Development of theories and methods widely used in economics and other social sciences for the statistical analysis of the behavior of individuals and households. In particular, Heckman's development of theories and methods for analyzing selective samples and McFadden's development of theories and methods for analyzing discrete choices.
33. 2001 Michael Spence (USA), George Akerlof (USA), and Joseph Stiglitz (USA) made important contributions to the field of "Analyzing Markets Full of Asymmetric Information".
34, 2002 Daniel Kahneman (USA) Vernon Smith (USA) Pioneering work in psychological and experimental economics research.
35, 2003 Robert Engel (USA), Clive Granger (UK) Pioneering methods of statistical analysis in dealing with two key properties of economic time series: time-varying volatility and non-stationarity.
36. In 2004, the Nobel Prize in Economics was awarded to the Norwegian economist Finn Kidlander and the American economist Edward Prescott for their contributions to the field of dynamic macroeconomics.
37. In 2005, the Nobel Prize in Economics was awarded to Robert Aumann, a dual citizen of Israel and the United States, and Thomas Schelling, an American. The Royal Swedish Academy of Sciences said the two economists were awarded the Nobel because "they have deepened our understanding of conflict and cooperation through their analysis of game theory."
38, 2006, American economist Edmund Phelps. Phelps challenged the then-prevalent "Phillips Curve" theory in the late 1960s.
39. In 2007, American economists Leonid Hervitch, Eric Maskin and Roger Myerson. They contributed to the creation and development of "mechanism design theory".
40, 2008 American economist Paul Krugman. Krugman integrated previous research in international trade and geo-economics to develop a theory of free trade, globalization, and the drivers of urbanization around the world.
41, 2009 American economists Eleanor Ostrom and Oliver Williamson. Ostrom was awarded the prize for her "analysis of economic management, with special reference to the management of public **** resources", while Williamson was awarded the prize for his "analysis of economic management, with special reference to the problem of corporate boundaries".
42. 2010 American economists Peter Diamond and Dale Mortensen, as well as Christopher Pissaridis, an economist with dual British and Cypriot citizenship. The three economists won the 2010 Nobel Prize in Economics for their further analysis of the theory of how economic policy affects unemployment.
43. 2011 Christopher Sims of Princeton University and Thomas Sargent of New York University. "Economic crises are in some ways policy crises, so there is a need to look at what role policy variables actually play in macroeconomic performance."
44. In 2012, American economists Alvin Roth and Lloyd Shapley were awarded the 2012 Nobel Prize in Economics for "a practical theory of stable allocations and market design."
45 In 2013, American economist Eugene Fama, University of Chicago professor Lars Peter Hansen, and American economist Robert J. Shiller were awarded the 2013 Nobel Prize in Economics for their pioneering work on financial markets, asset prices, and the operation of behavioral economics.
46, 2014, the 2014 "Sveriges Riksbank Memorial Alfred Nobel Prize in Economics" was announced on the afternoon of October 13, local time, Professor Jean Tirole (Jean Tirole) won the prize.
47, 2015, British economist Angus Deaton won the 2015 Nobel Prize in Economics for his research on consumption, poverty and welfare.
48, 2016, American economists Oliver Hart and Bengt Holmstrom won the 2016 Nobel Prize in Economics for their contributions to contract theory.
49, 2017, American economist Richard Thaler (Richard Thaler) for his contributions to the field of behavioral economics, won the 2017 Nobel Prize in Economics.
50, 2018, American economists William Nordhaus and Paul Romer were awarded the 2018 Nobel Prize in Economics for incorporating climate change and integrating technological innovation into long-term macroeconomic analysis, respectively.
51, 2019, Abhijit Banerjee, American economist and Ford Foundation Professor of International Economics at the Massachusetts Institute of Technology (MIT) in the United States, Esther Dufourreau, French economist and co-founder of the Abdul Latif Jamil Poverty Action Laboratory (J-PAL), and Michael Kramer, American development economist and current Gates Professor of Development at the Developmental Societies of Harvard University, were awarded the Nobel Prize for their work in the area of the 2019 Nobel Prize in Economics for their experimental approach to reducing global poverty.
52 On October 12, 2020, the Royal Swedish Academy of Sciences announced that it had awarded the 2020 Nobel Prize in Economics to Paul Milgrom and Robert Wilson for "Improvements in the theory of auctions and the invention of new forms of auctions."