American economists Robert E. Hall and Michael Woodford have been awarded the 2026 Nobel Memorial Prize in Economic Sciences, the Royal Swedish Academy of Sciences announced in Stockholm on Monday.
The award marks the final prize of this year's Nobel cycle following earlier announcements in medicine, physics, chemistry, literature and peace.
Formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, the award was established by Sweden's central bank in 1968. Although it is not one of the original five prizes created by 19th-century inventor Alfred Nobel, it is presented alongside the other Nobel Prizes in official ceremonies on December 10, the anniversary of Nobel's death.
The laureates will share a cash award of 12 million Swedish kronor (approximately $1.2 million). Last year's prize was awarded to three researchers for their work on how business innovation and technological progress drive economic growth and societal welfare.
