The Prize in Economic Sciences in Memory of Alfred Nobel, 1969-1998.

In conjunction with its tercentenary celebrations in 1968, Sveriges Riksbank (Bank of Sweden) instituted a new award, "The Central Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel" on the basis of an economic commitment by the bank in perpetuity. The award is given by the Royal Swedish Academy of Sciences according to the same principles as for the Nobel Prizes that have been awarded since 1901. Which criteria have guided the awards so far? And what have been the main problems when selecting the laureates? It is useful to start a discussion of these issues with a rough classification of the various types of economics prize awards given som far. It should be kept in mind, however, that all such classifications are rather arbitrary since the multidimensional nature of scientific contributions makes it difficult in avoid overlap.