In 1968, Sveriges Riksbank (Sweden’s central bank) established this Prize in memory of Alfred Nobel, founder of the Nobel Prize. Here are some facts and figures regarding The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, awarded from 1969 to 2017.
Number of Prizes in Economic Sciences
49 Prizes in Economic Sciences have been awarded every year since 1969.
25 Prizes in Economic Sciences have been given to one Laureate only.
18 Prizes in Economic Sciences have been shared by two Laureates.
6 Prizes in Economic Sciences have been shared between three Laureates.
Number of Laureates in Economic Sciences
79 individuals have been awarded 1969-2017.
List of all Laureates in Economic Sciences
The average age of all Laureates* in Economic Sciences between 1969 and 2017 is 67 years.
All Nobel Laureates listed by age
Youngest Laureate in Economic Sciences
To date, the youngest Laureate in Economic Sciences is Kenneth J. Arrow, who was 51 years old when he was awarded in 1972.
Oldest Laureate in Economic Sciences
The oldest Laureate in Economic Sciences to date is Leonid Hurwicz, who was 90 years old when he was awarded in 2007. He is also the oldest Laureate to be awarded in all Prize categories.
Female Laureates in Economic Sciences
Elinor Ostrom was the first female Laureate in Economic Sciences. Elinor Ostrom was awarded the Prize in 2009.
List of all female Nobel Laureates
Multiple Laureates in Economic Sciences
So far there are no multiple Laureates in Economic Sciences.
Multiple Nobel Laureates within other prize categories
No posthumous prizes in Economic Sciences
There have been no posthumous Prizes in Economic Sciences. From 1974, the Statutes of the Nobel Foundation stipulate that a Prize cannot be awarded posthumously, unless death has occurred after the announcement of the Prize. Before 1974, the Nobel Prize has only been awarded posthumously twice: to Dag Hammarskjöld (Nobel Peace Prize 1961) and Erik Axel Karlfeldt (Nobel Prize in Literature 1931).
Family Laureates in Economic Sciences
Jan Tinbergen (Economic Sciences in 1969) and Nikolaas Tinbergen (Physiology or Medicine in 1973)
Gunnar Myrdal (Economic Sciences in 1974) and Alva Myrdal (Nobel Peace Prize in 1982)
The medal for the Prize in Economic Sciences
The medal for Economic Sciences was designed by Swedish artist and sculptor Gunvor Svensson-Lundqvist and shows the North Star emblem of the Royal Swedish Academy of Sciences.
Read more about the medal for the Prize in Economic Sciences
Each Diploma is a unique work of art, created by foremost Swedish and Norwegian artists and calligraphers.
More about the Diplomas
The Prize amount
Alfred Nobel left most of his estate, more than SEK 31 million (today approximately SEK 1,702 million) to be converted into a fund and invested in “safe securities.” The income from the investments was to be “distributed annually in the form of prizes to those who during the preceding year have conferred the greatest benefit to mankind.”
The Prize amount for 2018 is set at Swedish kronor (SEK) 9.0 million per full Prize.
More about the Prize amount
*Why are the individuals awarded a Prize in Economic Sciences called Laureates?
The word “Laureate” refers to being signified by the laurel wreath. In Greek mythology, the god Apollo is represented wearing a laurel wreath on his head. A laurel wreath is a circular crown made of branches and leaves of the bay laurel (in Latin: Laurus nobilis). In Ancient Greece, laurel wreaths were awarded to victors as a sign of honour – both in athletic competitions and in poetic meets.
Links to more facts on the Nobel Prizes:
Facts on the Nobel Prize in Physics
Facts on the Nobel Prize in Chemistry
Facts on the Nobel Prize in Physiology or Medicine
Facts on the Nobel Prize in Literature
Facts on the Nobel Peace Prize
Facts on the Prize in Economic Sciences
Facts on all Nobel Prizes
First published 5 October 2009.