The Nobel Prize Laureates in Economics

Write and present a short piece on one of the Nobel Prize Laureates in Economics (to be precise, of the Sverige Riksbank Prize in Economic Sciences in Memory of Alfred Nobel). https://www.nobelprize.org/ Briefly describe the laureate’s academic background. Explain the general research for which the Prize was awarded and why it was path-breaking. Present one contribution in more detail (that is, one research paper).