The
Erwin Plein Nemmers Prize in Economics is awarded biennially from
Northwestern University{{Infobox university|name = Northwestern University|image_name = NU seal.png|motto = Quaecumque sunt vera |mottoeng =Whatsoever things are true |established = 1851|type = Private|calendar = Quarter...
. It was initially endowed along with a companion prize, the
Frederic Esser Nemmers Prize in MathematicsThe Frederic Esser Nemmers Prize in Mathematics is awarded biennially from Northwestern University. It was initially endowed along with a companion prize, the Erwin Plein Nemmers Prize in Economics, as part of a $14 million donation from the Nemmers brothers. They envisioned creating an award that...
. Both are part a $14 million donation from the Nemmers brothers, who envisioned creating an award that would be as prestigious as the Nobel prize. Three of the award recipients (Aumann, McFadden, and Prescott) have subsequently been awarded the Nobel Prize for Economics. The award is given to recognize "work of lasting significance" in the respective disciplines. In particular, the prizes recognize "major contributions to new knowledge or the development of significant new modes of analysis."
Currently, the award carries a $150,000 stipend, believed to be the largest monetary prize for economics in the U.S., and the scholar spends 10 weeks in residence at Northwestern University.
Awardees
- 2008: Paul R. Milgrom
Paul Robert Milgrom is an American economist. He is currently the Shirley and Leonard Ely Professor of Humanities and Sciences at Stanford University, a position he has held since 1987. Dr. Milgrom is an expert in game theory, specifically auction theory and pricing strategies...
- 2006: Lars Peter Hansen
Lars Peter Hansen is an economist at the University of Chicago. After graduating from Utah State University and the University of Minnesota Lars Peter Hansen (b. October 26, 1952 in Champaign, Illinois) is an economist at the University of Chicago. After graduating from Utah State University...
- 2004: Ariel Rubinstein
Ariel Rubinstein is an Israeli economist who works in game theory. He was educated at the Hebrew University of Jerusalem, 1972-1979, in both mathematics and economics...
- 2002: Edward C. Prescott
Edward Christian Prescott is an American economist. He received the Nobel Memorial Prize in Economics in 2004, sharing the award with Finn E. Kydland, "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles"...
- 2000: Daniel L. McFadden
Daniel Little McFadden is an econometrician who won the 2000 Nobel Memorial Prize in Economic Sciences; McFadden's share of the prize was "for his development of theory and methods for analyzing discrete choice". He is currently the E...
- 1998: Robert J. Aumann
Robert John Aumann is an Israeli/American mathematician and a member of the United States National Academy of Sciences. He is a professor at the Center for the Study of Rationality in the Hebrew University of Jerusalem in Israel...
- 1996: Thomas J. Sargent
Thomas John "Tom" Sargent is an American economist specializing in the fields of macroeconomics, monetary economics and time series econometrics. He is known as "one of the leaders of the rational expectations revolution" and the author of numerous path-breaking papers...
- 1994: Peter A. Diamond
Peter Arthur Diamond is an American economist known for his analysis of U.S. Social Security policy and his work as an advisor to the Advisory Council on Social Security in the late 1980s and 1990s.- Education and career :...