To examine the formation of institutions and their effects on prosperity, Taron Acemoglu, Simon Johnson, and James A. Robinson were awarded the Nobel Prize in Economics.
The three economists will share the 11 million kroner ($1.1 million) prize. This is stated in the statement of the Royal Swedish Academy of Sciences, which was published today.
The award, officially known as the Swedish Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968 by the Swedish Central Bank. It complements the annual awards for achievements in physics, chemistry, medicine, literature, and peace, based on the will of Swedish inventor Alfred Nobel, who died in 1896.
