Nobel Prize in Economics winner Angus Deaton turns 70 today

Angus Deaton, born in Scotland but a longtime professor at Princeton, has won the 2015 Nobel Prize for Economics "for his analysis of consumption, poverty, and welfare." Deaton is well-known for a broad body of work rather than for a handful of breakthrough papers. But it is possible to understand his output as falling along a couple of themes. Methodologically, Deaton is about both empiricism and individualism, arguing for a close look at data on how specific human beings and households behave, rather than stylized models or big national-level aggregate data. "His researches had revealed the "underwater stones" in comparing poverty rates. He also demonstrated how the intelligent application of data on household consumption could shed light on such issues as mutual relation between income and consumption of calories” says the statement issued by the Nobel committee.

The prize is 8 million Swedish kronor (953 million dollars).

Today Angus Deaton turns 70.

ASUE Media and Public Relations Division.