Nobel Laureates

Angrist was cited for his work establishing new methods of conducting “natural experiments” in economics — studies using data in which otherwise similar groups of people are separated by crucial variables, allowing researchers to better understand cause and effect in complex social situations. Natural experiments, as the Nobel citation states, are “a rich source of knowledge. Their research has substantially improved our ability to answer key causal questions, which has been of great benefit to society.” Angrist is honored along with David Card and Guido Imbens.

MIT professors Banerjee and Duflo, whose work has transformed poverty alleviation research and policy, won the 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, sharing the prize with a longtime affiliate, economist Michael Kremer of Harvard. In their work, they have applied the precision of laboratory-style randomized control trials while examining the many attributes of poverty and developing effective poverty alleviation programs.

MIT professor Holmström, along with Harvard economist Oliver Hart, was awarded the 2016 Nobel Prize for Economic Sciences in recognition of his work in the field of contract theory.

Tolouse School of Economics Professor, MIT Economics alumnus, former professor, and current visiting faculty Jean Tirole was awarded the Nobel Prize for Economic Sciences in recognition of his analysis of market power and regulation.

With two other economists, Professor emeritus Peter Diamond was awarded the Nobel Prize for Economic Sciences in recognition of his analysis of markets with search frictions.

Paul Krugman, MIT Economics PhD and former faculty member, was awarded the 2008 Nobel Prize for Economic Sciences in recognition of his analysis of trade patterns and location of economic activity.

Institute Professor emeritus Robert Solow was awarded the Nobel Prize for Economic Sciences in recognition of his contributions to the theory of economic growth.

Professor Franco Modigliani (1918–2003) was awarded the Nobel Prize in Economic Sciences for his pioneering analyses of savings and financial markets.

Professor Paul Samuelson (1915–2009) was awarded the Nobel Prize for Economic Sciences in recognition of the work through which he developed static and dynamic economic theory and contributed to raising the level of analysis in economic science.