** **

**The Nobel
Prize Internet Archive **

**1998**

__A____MARTYA S__** EN** for his
contributions to welfare economics.

**1997**

__R____OBERT C. M__** ERTON** and

**1996**

__J____AMES A. M__** IRRLEES** and

**1995**

**R****OBERT L****UCAS** for having developed and applied the
hypothesis of rational expectations, and thereby having transformed
macroeconomic analysis and deepened our understanding of economic policy.

**1994**

The prize was awarded jointly to:

**J****OHN C****. H****ARSANYI**
, **J****OHN F****. N****ASH**
and **R****EINHARD S****ELTEN** for their pioneering
analysis of equilibria in the theory of non-cooperative games.

**1993**

The prize was awarded jointly to:

**R****OBERT W****. F****OGEL**
and **D****OUGLASS C****. N****ORTH** for having renewed research in economic
history by applying economic theory and quantitative methods in order to
explain economic and institutional change.

**1992**

**G****ARY S****. B****ECKER**
for having extended the domain of microeconomic analysis to a wide range of
human behaviour and interaction, including nonmarket behaviour.

**1991**

**R****ONALD H****. C****OASE**
for his discovery and clarification of the significance of transaction costs and
property rights for the institutional structure and functioning of the economy.

**1990**

The prize was awarded with one third each to:

**H****ARRY M****. M****ARKOWITZ**
, **M****ERTON M****. M****ILLER**
and **W****ILLIAM F****. S****HARPE** for their pioneering work in the theory of
financial economics.

**1989**

**T****RYGVE H****AAVELMO** for his clarification of the probability
theory foundations of econometrics and his analyses of simultaneous economic
structures.

**1988**

**M****AURICE A****LLAIS** for his pioneering
contributions to the theory of markets and efficient utilization of resources.

**1987**

**R****OBERT M****. S****OLOW**
for his contributions to the theory of economic growth.

**1986**

**J****AMES M****. B****UCHANAN,
J****R.** for his
development of the contractual and constitutional bases for the theory of
economic and political decision-making.

**1985**

**F****RANCO M****ODIGLIANI** for his pioneering analyses of saving and
of financial markets.

**1984**

**S****IR R****ICHARD S****TONE**
for having made fundamental contributions to the development of systems of national
accounts and hence greatly improved the basis for empirical economic analysis.

**1983**

**G****ERARD D****EBREU** for having incorporated new analytical
methods into economic theory and for his rigorous reformulation of the theory
of general equilibrium.

**1982**

**G****EORGE J****. S****TIGLER**
for his seminal studies of industrial structures, functioning of markets and
causes and effects of public regulation.

**1981**

**J****AMES T****OBIN** for his analysis of financial markets and
their relations to expenditure decisions, employment, production and prices.

**1980**

**L****AWRENCE R****. K****LEIN** for the creation of econometric models and the
application to the analysis of economic fluctuations and economic policies.

**1979**

The prize was divided equally between:

**T****HEODORE W****. S****CHULTZ** and **S****IR A****RTHUR L****EWIS**
for their pioneering research into economic development research with
particular consideration of the problems of developing countries.

**1978**

**H****ERBERT A****. S****IMON** for his pioneering research into the
decision-making process within economic organizations.

**1977**

The prize was divided equally between:

**B****ERTIL O****HLIN** and **J****AMES E M****EADE** for their pathbreaking
contribution to the theory of international trade and international capital
movements.

**1976**

**M****ILTON F****RIEDMAN** for his achievements in the fields of consumption
analysis, monetary history and theory and for his demonstration of the
complexity of stabilization policy.

**1975**

The prize was awarded jointly to:

**L****EONID V****ITALIYEVICH K****ANTOROVICH
**and **T****JALLING C****. K****OOPMANS** for their contributions to the theory of
optimum allocation of resources.

**1974**

The prize was divided equally between:

**G****UNNAR M****YRDAL** and **F****RIEDRICH A****UGUST V****ON H****AYEK**
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.

**1973**

**W****ASSILY L****EONTIEF** for the development of the
input-output method and for its application to important economic problems.

**1972**

The prize was awarded jointly to:

**S****IR J****OHN R****. H****ICKS** and **K****ENNETH J****. A****RROW** for their pioneering contributions to general
economic equilibrium theory and welfare theory.

**1971**

**S****IMON K****UZNETS** 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.

**1970**

**P****AUL A S****AMUELSON** 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.

**1969**

The prize was awarded jointly to:

**R****AGNAR F****RISCH** and **J****AN T****INBERGEN** for having developed and applied dynamic
models for the analysis of economic processes.