Below is a list of the Laureates in Economics during the period 1991-1995 with a description of the work awarded with the Economics Prize:

(1991) R H Coase - for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy;

(1992) G S Becker - for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including nonmarket behaviour;

(1993) R W Fogel and DC North - for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change;

(1994) J C Harsanyi, J F Nash and R Selten - for their pioneering analysis of equilibria in the theory of non-cooperative games;

(1995) R E Lucas - for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy.

280pp

Pub. date: July 1997

ISBN 981-02-3059-1 (hardcover)

ISBN 981-02-3060-5 (paperback)