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 linking detailedindividual choices and aggregate outcomes, his research 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 linking detailedindividual choices and aggregate outcomes, his research hashelped transform the fields of microeconomics, macroeconomics,and development economics," says the Swedish Royal Academy'smotivation. The Nobel Committee said: "To design economicpolicy that promotes welfare and reduces poverty, we must firstunderstand individual consumption choices. More than anyoneelse, Angus Deaton has enhanced this understanding." ProfDeaton was rewarded for three correlated successes: havingdeveloped in 1980, with his colleague John Muellbauer, a systemto estimate the demand for different goods; for his research onthe link between consumption and income conducted in 1990; andfor the work performed in the following decades on measuringliving standards and poverty in developing countries on thebasis of surveys on households. The economics prize, worth 8million Swedish krona (roughly 860,000 euros and 950,000dollars), will be awarded during the Nobel Prize ceremony thatwill be held in Stockholm on Dec. 10, the anniversary of thedeath of Swedish scientist and philanthropist, Alfred Nobel.(AGI).