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6 unusual facts about Nobel Memorial Prize in Economic Sciences


Capital asset pricing model

Sharpe, Markowitz and Merton Miller jointly received the 1990 Nobel Memorial Prize in Economics for this contribution to the field of financial economics.

Community management

Elinor Ostrom and Oliver E. Williamson won the 2009 Nobel prize in economic science for work in this area, where they suggested that with good community management of shared resources, as found in successful firms, the "tragedy of the commons" can be avoided.

Eduardo Sojo Garza-Aldape

Sojo graduated from the Monterrey Institute of Technology and Higher Studies (ITESM) with a bachelor's degree in Economics and received both a master's degree in Economics and a doctorate in Industrial Organization and Finance from the University of Pennsylvania, where he published several papers on econometrics and time-series with Lawrence Klein, the 1980 laureate of the Nobel Memorial Prize in Economic Sciences.

Nobel Memorial Prize in Economic Sciences

Sylvia Nasar wrote in her book A Beautiful Mind that in February 1995, after acrimony pertaining to the awarding of the 1994 Prize in Economics to John Forbes Nash, the Prize in Economics was redefined as a prize in social science.

Robert J. Shiller

On October 14, 2013, it was announced that Shiller had become a recipient of the 2013 Nobel Prize in Economics alongside Eugene Fama and Lars Peter Hansen.

Susan Stamberg

One of her most memorable interviews was with Nobel Prize–winning economist Milton Friedman.


An American Dilemma

An American Dilemma: The Negro Problem and Modern Democracy is a 1944 study of race relations authored by Swedish Nobel-laureate economist Gunnar Myrdal and funded by The Carnegie Foundation for the Advancement of Teaching.

Ernst Fehr

According to IDEAS/REPEC, he is the second-most influential German-speaking economist, and is ranked at 99th globally and has been candidate to be laureated with the Nobel Memorial Prize in Economic Sciences.

Jan Tinbergen

Tinbergen's work on macroeconomic models was later continued by Lawrence Klein, contributing to another Nobel Memorial Prize in Economic Sciences.

Palmer R. Chitester Fund

Wallis therefore introduced Chitester to his old friend Milton Friedman in early 1977 (shortly after Friedman won the Nobel Memorial Prize in Economic Sciences).

Stockholm School of Economics

Gunnar Myrdal received the Nobel Memorial Prize in Economic Sciences in 1974 (shared with his ideological nemesis, Austrian economist Friedrich Hayek); Bertil Ohlin received the Nobel Prize in Economics in 1977 (shared with British economist James Meade).

Sveriges Riksbank

Following its third centennial in 1968, the Bank instituted the annual Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, which is awarded with the Nobel Prizes at the Prize Award Ceremony in Stockholm, on 10 December, the anniversary of Nobel's death.


see also

Basic income in the United Kingdom

James Meade, a left-leaning economist and winner of the 1977 Nobel Memorial Prize in Economic Sciences, took part in the basic income discussion from time to time.