2015 Nobel Prize in Economic Sciences

The 2015 Nobel Prize in Economic Sciences has been awarded to Angus Deaton. The prize was announced by the Royal Swedish Academy of Sciences in Stockholm on 12 October 2015.

The citation

The citation reads: "for his analysis of consumption, poverty, and welfare".

The laureate

Angus Deaton was born in 1945 in Edinburgh, Scotland, and is affiliated with Princeton University, Princeton.

Why it matters

Deaton, born in Edinburgh, used household surveys to study how people spend money and how to measure poverty and wellbeing.

The prize

The prize is worth 8 million Swedish kronor. It will be presented at a ceremony in Stockholm on 10 December, the anniversary of the death of Alfred Nobel, the Swedish inventor of dynamite whose will founded the prizes in 1895. Strictly, this award is the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. It was established by the Swedish central bank in 1968, but is presented alongside the Nobel Prizes.