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Economics Nobel Laureates

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Vernon L. Smith

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Establishment of laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms.

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Paul Samuelson

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Foundations of economic analysis and bringing mathematical rigor to economics.

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Amartya Sen

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Contributions to welfare economics and social choice theory, and for his interest in the problems of society's poorest members.

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Gary S. Becker

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Extended the domain of microeconomic analysis to a wide range of human behavior and interaction, including non-market behavior.

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Elinor Ostrom

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Analysis of economic governance, especially the commons.

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Robert Shiller

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Empirical analysis of asset prices.

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Paul Krugman

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Analysis of trade patterns and location of economic activity.

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Joseph Stiglitz

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Analysis of markets with asymmetric information.

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Peter A. Diamond

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Analysis of the foundations of search frictions in markets.

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Milton Friedman

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Development of consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy.

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Robert Solow

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Development of the neoclassical growth model.

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James M. Buchanan

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Development of the contractual and constitutional bases for the theory of economic and political decision-making.

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Richard H. Thaler

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Contributions to behavioral economics.

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George Akerlof

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Analyses of markets with asymmetric information.

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Daniel Kahneman

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Having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty.

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Alvin E. Roth

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Theory and applications of market design and stable allocations, particularly the matching of doctors to hospitals, students to schools, and kidneys to patients.

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Jean Tirole

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Analysis of market power and regulation.

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Abhijit Banerjee

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Experimental approach to alleviating global poverty.

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Oliver E. Williamson

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Analyses of economic governance, particularly boundaries of the firm.

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Michael Kremer

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Introduction of a new approach to obtaining reliable answers about the best ways to fight poverty.

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Robert B. Wilson

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Theory for auctions and inventing new auction formats.

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Paul M. Romer

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Integration of technological innovations into long-term macroeconomic analysis.

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Esther Duflo

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Use of randomized controlled trials for effective interventions in fighting global poverty.

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William D. Nordhaus

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Integrating climate change into long-term macroeconomic analysis.

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Paul R. Milgrom

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Improvements to auction theory and inventions of new auction formats.

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