2006: American Edmund S. Phelps for furthering knowledge of trade-offs between inflation and unemployment.

2005: Robert J. Aumann, of Israel and the US, and American Thomas C. Schelling, for work in game-theory analysis.

2004: Finn E. Kydland, Norway, and Edward C. Prescott, US, for their contribution to dynamic macroeconomics.

2003: Robert F. Engle, US, and Clive W.J. Granger, Britain, for their use of statistical methods for economic time series.

2002: Daniel Kahneman, US and Israel, and Vernon L. Smith, US, for pionee ring use of psychological and experimental economics in decision-making.

2001: George A. Akerlof, A. Michael Spence and Joseph E. Stiglitz, US, for research into how information affects markets.

2000: James J. Heckman and Daniel L. McFadden, US, for work in developing theories to analyze labor data and how people make work and travel decisions.

1999: Robert A. Mundell, Canada, for innovative analysis of exchange rates that helped lay the intellectual groundwork for Europe's common currency.

1998: Amartya Sen, India, for contributions to welfare economics, which help explain the economic mechanisms underlying famines and poverty.

1997: Robert C. Merton and Myron S. Scholes, US, for developing a formula for the valuation of stock options.

Agencies

(China Daily 10/16/2007 page11)