Sveriges Riksbank's Prize in Economic Sciences was established in connection with the Riksbank's 300th anniversary in 1968. The prize is awarded every year to a person or persons in the field of economic sciences who have produced work of outstanding importance.
The Royal Swedish Academy of Sciences appoints the prize-winner(s) according to the same principles as for the Nobel Prizes. The prize amount is also the same as for the Nobel Prizes, 9 million, and is paid by the Riksbank. If there is more than one winner, the prize amount is shared equally between them.
The prize has been awarded every year since 1969.
The Royal Swedish Academy of Sciences has decided to award the prize to Abhijit Banerjee, Massachusetts Institute of Technology, Cambridge, USA, Esther Duflo, Massachusetts Institute of Technology, Cambridge, USA and Michael Kremer, Harvard University, Cambridge, USA. They received the price for their experimental approach to alleviating global poverty.