Nobel Prize for Economy awarded to Scotland's Angus Deaton

(AGI) Stockholm, Oct 12 - The 2015 Nobel Prize for EconomicSciences has been awarded to Scotland's Angus Deaton, Professorof Economics and International Affairs at the University ofPrinceton. The prize was awarded for his analyses ofconsumption trends, poverty and welfare systems. ProfessorDeaton was born in Edinburgh on October 19, 1945, and he hasBritish and American citizenship. He teaches Economics andInternational Affairs at the Woodrow Wilson School of Publicand International Affairs (WWS) and at the Department ofEconomics of the University of Princeton. "By linkingdetailed individual choices and aggregate outcomes, hisresearch has

(AGI) Stockholm, Oct 12 - The 2015 Nobel Prize for EconomicSciences has been awarded to Scotland's Angus Deaton, Professorof Economics and International Affairs at the University ofPrinceton. The prize was awarded for his analyses ofconsumption trends, poverty and welfare systems. ProfessorDeaton was born in Edinburgh on October 19, 1945, and he hasBritish and American citizenship. He teaches Economics andInternational Affairs at the Woodrow Wilson School of Publicand International Affairs (WWS) and at the Department ofEconomics of the University of Princeton. "By linkingdetailed individual choices and aggregate outcomes, hisresearch has helped transform the fields of microeconomics,macroeconomics, and development economics," says the SwedishRoyal Academy's motivation. The Nobel Committee said: "Todesign economic policy that promotes welfare and reducespoverty, we must first understand individual consumptionchoices. More than anyone else, Angus Deaton has enhanced thisunderstanding." Prof Deaton was rewarded for threecorrelated successes: having developed in 1980, with hiscolleague John Muellbauer, a system to estimate the demand fordifferent goods; for his research on the link betweenconsumption and income conducted in 1990; and for the workperformed in the following decades on measuring livingstandards and poverty in developing countries on the basis ofsurveys on households. The economics prize, worth 8 millionSwedish krona (roughly 860,000 euros and 950,000 dollars), willbe awarded during the Nobel Prize ceremony that will be held inStockholm on Dec. 10, the anniversary of the death of Swedishscientist and philanthropist, Alfred Nobel. (AGI) . .