British-American economist Angus Deaton has won the 2015 Nobel Prize for economics.
“The Royal Swedish Academy of Sciences has today decided to award the Sveriges Riksbank Prize in Economic Sciences, in memory of Alfred Nobel, to Angus Deaton for his analysis of consumption, poverty, and welfare,” said the Nobel Committee’s Secretary-General Goran K. Hansson at the ceremony in Stockholm.
Angus Deaton, who is 69, comes from Scotland and has been based at Princeton University in the United States since the early 1980s. He has both British and American citizenship.
The Swedish Academy said Deaton’s understanding of individual consumption choices were vital for designing economic policy that promoted welfare and reduces poverty.
His research has concentrated on measuring poverty in the developing world – and health in rich and poor countries.
He has said he is both “surprised and delighted” to receive the award – he will also get a cash prize of eight million Swedish crown (860,000 euros).