2017 Noble Prize awards for economics due Monday

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OCTOBER 9, 2017 – The winner of the Nobel Prize in Economic Sciences is due to be announced on Monday, rounding off this year’s awards after last week saw anti-nuclear campaigners and gravitational wave researchers, among others, given the Nobel nod.

The announcement is due at 11:45 am (0945 GMT) at the earliest.

It is worth 9 million kronor (1.1 million dollars), the same as the other Nobel prizes in medicine, physics, chemistry, literature and peace.

Last year, British-born economist Oliver Hart and Finnish economist Bengt Holmstrom were honoured for their work on contracts.

With the exception of economics, the prizes were all endowed by Swedish industrialist Alfred Nobel (1833-96), the inventor of dynamite.

The economics prize, which was not one of the original prizes mentioned in Nobel’s will, is formally called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. It was set up and funded by the Swedish central bank and first awarded in 1969.

Only one woman, Elinor Ostrom of the United States, has won the economics prize to date.

The Nobel awards are set to be presented on December 10, the anniversary of Nobel’s death.

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