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1 (of 14) William D. Nordhaus receiving his Prize from H.M. King Carl XVI Gustaf of Sweden at the Stockholm Concert Hall, 10 December 2018.

© Nobel Media. Photo: Alexander Mahmoud

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2 (of 14) William D. Nordhaus after receiving his Prize at the Stockholm Concert Hall, 10 December 2018.

© Nobel Media. Photo: Alexander Mahmoud

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3 (of 14) Physics laureates Gérard Mourou and Donna Strickland, chemistry laureates Frances H. Arnold, George P. Smith and Sir Gregory P. Winter, medicine laureates James P. Allison and Tasuku Honjo, and laureate in economic sciences William D. Nordhaus at the Nobel Prize award ceremony in Stockholm, Sweden on 10 December 2018.

© Nobel Prize Outreach. Photo: N. Adachi

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4 (of 14) Waiting for the award ceremony to start - Paul M. Romer, William D. Nordhaus, Frances H. Arnold and Donna Strickland just before they receive their medals and diplomas.

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5 (of 14) William D. Nordhaus delivering his speech of thanks at the Nobel Prize banquet in the Stockholm City Hall, 10 December 2018.

© Nobel Prize Outreach. Photo: D. Lepp

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6 (of 14) William D. Nordhaus and Barbara Nordhaus take to the dance floor in the Golden Hall after the Nobel Prize banquet dinner on 10 December 2018.

© Nobel Prize Outreach. Photo: A. Mahmoud

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7 (of 14) William D. Nordhaus showing his medal during a visit to the Nobel Foundation on 11 December 2018.

© Nobel Prize Outreach. Photo: A. Mahmoud

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8 (of 14) 2018 laureates assembled at the Nobel Foundation on 12 December 2018. From left: physics laureate Arthur Ashkin's son Michael Ashkin, laureate in economic sciences William D. Nordhaus, physics laureates Donna Strickland and Gérard Mourou, chemistry laureates Sir Gregory P. Winter and George P. Smith, medicine laureates Tasuku Honjo and James P. Allison, chemistry laureate Frances H. Arnold, laureate in economic sciences Paul M. Romer and peace laureate Denis Mukwege.

© Nobel Prize Outreach. Photo: A. Mahmoud

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9 (of 14) William D. Nordhaus photographed during Nobel Week in Stockholm in December 2018.

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10 (of 14) William Nordhaus at the Royal Swedish Academy of Sciences press conference on 7 December.

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11 (of 14) William D. Nordhaus photographed during a press conference during Nobel Week in Stockholm in December 2018.

© Nobel Prize Outreach. Photo: A. Mahmoud

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12 (of 14) William D. Nordhaus presenting his gift to the Nobel Museum's collection: a Roman oil lamp, during the laureates' get together on 6 December 2018. Nordhaus acquired this lamp in conjunction with an economic-historical study on lighting. It is about 2,500 years old. In his work, Nordhaus examined the cost of achieving a certain amount of light at different times in human history. He investigated methods of producing light, from open fires all the way to incandescent light. He was struck by how much more efficient they have become.

© Nobel Prize Outreach. Photo: N. Adachi

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13 (of 14) William D. Nordhaus arriving to the laureates' get together at the Nobel Museum in Stockholm on 6 December 2018.

© Nobel Prize Outreach. Photo: A. Mahmoud

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14 (of 14) The same morning after he learned he'd been awarded the 2018 Prize in Economic Sciences, Professor William Nordhaus taught his intermediate macroeconomics class at Yale University.

Photo: Yale University/Mara Lavitt