Dismal science146;s Nobel scientists

2005: Robert J Aumann of Israel and the US, and American Thomas C Schelling for their work in game-theory analysis

2004: Finn E Kydland, Norway, and Edward C Prescott, US, for their contribution to dynamic macroeconomics

2003: Robert F Engle, US, and Clive W J Granger, Britain, for their use of statistical methods for economic time series

2002: Daniel Kahneman, US and Israel, and Vernon L Smith, US, for pioneering the use of psychological and experimental economics in decision-making

2001: George A Akerlof, A Michael Spence and Joseph E Stiglitz, US, for research into how the control of information affects markets

2000: James J Heckman and Daniel L McFadden, US, for their work in developing theories to help analyse labour data and how people make work and travel decisions

1999: Robert A. Mundell, Canada, for innovative analysis of exchange rates that helped lay the intellectual groundwork for Europe8217;s common currency

1998: Amartya Sen, India, for contributions to welfare economics, which help explain the economic mechanisms underlying famines and poverty

1997: Robert C Merton and Myron S Scholes, US, for developing a formula for the valuation of stock options.

1996: James A. Mirrlees, Britain, and William Vickrey, US, for contributions to the economic theory of incentives under asymmetric information

1995: Robert E Lucas Jr, US, for having developed and applied the hypothesis of rational expectations

1994: John C Harsanyi and John F Nash, US, and Reinhard Selten,Germany, for their contribution to the theory of noncooperative games

1993: Robert W Fogel and Douglass C North, US, for applying economic theory and quantitative methods to explain economic and institutional changes.

1992: Gary S Becker, US, for extending microeconomic theory to a wide range of human behaviour.

1991: Ronald Coase, Britain, for discovering and clarifying the significance of transaction costs and property rights for the functioning of the economy.

1990: Harry M Markowitz, William F Sharpe and Merton Miller, US, for pioneering work in the theory of financial economics

1989: Trygve Haavelmo, Norway, for clarification of the probability theory foundation of econometrics

1988: Maurice Allais, France, for contributions to the theory of markets and the efficient use of resources

1987: Robert M Solow, US, for contributions to the theory of economic growth

1986: James M Buchanan Jr, US, for research in the theory of economic and political decision-making

1985: Franco Modigliani, US, for analyses of saving and of financial markets

1984: Richard Stone, Britain, for contributions to the development of systems of national accounts

1983: Gerard Debreu, US, for the reformulation of the theory of general equilibrium

1982: George J Stigler, US, for studies of industrial structures and the causes and effects of public regulation.

1981: James Tobin, US, for the analysis of financial markets and their relation to expenditure, production, employment and prices

1980: Lawrence R Klein, US, for the creation of econometric models