The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1993
Robert W. Fogel, Douglass C. North
Douglass C. North
Born: 5 November 1920, Cambridge, MA, USA
Affiliation at the time of the award: Washington University, St. Louis, MO, USA
Prize motivation: "for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change"
Field: economic history
Contribution: Shed new light on the economic development in Europe and the United States before and in connection with the industrial revolution. He emphasized the role of property rights and institutions.