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The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel,[1] informally called the Nobel Prize in Economics, is a prize awarded each year for outstanding contributions in the field of economics. The prize was not one of the awards set out in the will of Alfred Nobel. The winners of the prize receive their diploma and gold medal from the Swedish monarch at the same December 10 ceremony in Stockholm as the Nobel laureates in physics, chemistry, physiology or medicine, and literature. The amount of money awarded to the economics laureates is also equal to that of the other prizes.
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
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
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
for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy
for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis
for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy
for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change
for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy
for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty
for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms