The Nobel prize in Economics was awarded for its efforts to combat poverty
Prize in memory of Alfred Nobel in Economics for 2019 was received by the economists of Abhijit Banerjee, Esther Duflot and Michael Kremer.
The award was established by the Swedish state Bank in 1968, it is not a major five awards, as specified by Nobel in his will in 1895.
It is awarded by the Royal Academy of Sciences, In current year cash consideration, as the amount of other awards is nine million Swedish kronor (about 900 thousand dollars).
The prize is awarded in conjunction with the main awards in Stockholm on 10 December, the day of death of Alfred Nobel.
French, Esther Duflot from the Massachusetts Institute of technology became the second woman to be awarded this prestigious award. The first in 2009 was American Elinor Ostrom for Her analysis of economic governance: it provided that the common property, as well as among them, resources can be effectively managed by groups of people.
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