Three get Nobel Prize for Economics 

The 2024 Nobel Prize for Economics was awarded on Monday to Daron Acemoglu, Simon Johnson and James A. Robinson for their studies on how institutions are formed and affect prosperity.

The winners were announced by the Royal Swedish Academy of Sciences at a news conference in Stockholm, marking the end of the 2024 Nobel season after prizes for medicine, physics, chemistry, literature and peace were awarded last week.

The economics award is worth 11 million Swedish kronor (roughly $1 million; €0.92 million) — the same as the other Nobel categories.

Acemoglu, Johnson, and Robinson are highly influential economists and political scientists, particularly known for their collaborations on the relationship between political institutions, economic development, and long-term prosperity.

Acemoglu and Johnson are professors at the Massachusetts Institute of Technology (MIT), while Robinson works for the University of Chicago.