Claudia Goldin demonstrated how and why gender differences in earnings and employment rates have changed over time in the United States.

Richard Thaler has paid special attention to three psychological factors: the tendency to not behave completely rationally, notions of fairness and reasonableness, and lack of self-control.

John Nash was awarded the economic sciences prize for the Nash equilibrium theory. He introduced the distinction between cooperative games and non-cooperative games.

Angus Deaton employed theory, data collection and statistics together to see how consumption, poverty, and welfare are related. His conclusion? We need to understand individual consumption choices before we can design economic policy that promotes welfare and reduces poverty.

Watch this interview with Dr. John Nash, who received the Prize in Economic Sciences in 1994. He talks about the impact the prize has had on his life, his talent for mathematics as a child and about the movie about his life, ‘A Beautiful Mind’.

Read how ‘innumerable contracts’ hold modern economies together. The recipients of the 2016 Prize in Economic Sciences created theoretical tools for understanding real-life contracts and institutions, as well as potential pitfalls in contract design.