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Nobel Prize for Economics 2015
Oct 13, 2015

The Nobel Prize Committee has decided to award The Sveriges Riksbank Prize in Economics in Memory of Alfred Nobel for 2015 to Angus Deaton, 68 years Edinberg born professor at Princeton University, USA for his diverse contributions to the study of consumer spending. His research has explored how people, particularly the poor, make decisions about what to buy and how much to save.

  • The Nobel Prize committee recognized Deaton for his analysis of consumption, poverty, and welfare—a broad phrase to describe a broad body of research.

  • His research has explored how people, particularly the poor, make decisions about what to buy and how much to save.

  • His work covers a wide spectrum, from the deepest implications of theory to the grittiest detail of measurement.

  • Deaton's early research into theories of consumption and survey techniques helped bridge the divide between those who study the choices of individuals and those who study the larger economy.

  • In recent decades, he has spent much of his time using those ideas to investigate poverty in developing nations, especially India and South Africa.

  • Deaton's efforts surveying poor households—measuring malnutrition, living standards, and whether parents discriminate between boys and girls—has helped economists better understand those who live on less than a dollar a day.

  • Through his research, often with the World Bank, he has been a first-hand witness to the decline of extreme poverty in recent decades.


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