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DEPARTMENT OF COMMUNICATION AND INSTITUTIONAL RELATIONS
Angus Deaton, 2011 BBVA Foundation Frontiers of Knowledge laureate wins the 2015 Nobel Prize
Madrid, October 13, 2015.-Angus Stewart Deaton (United Kingdom, 1945), professor at Princeton University (USA) and 2011 BBVA Foundation Frontiers of Knowledge Laureate in Economics, Finance and Management has received the 2015 Nobel Prize in Economic Sciences for his analysis of “consumption, poverty and welfare.”
Professor Deaton is the fifth winner of a BBVA Foundation Frontiers of Knowledge Award who has gone on to win the Nobel Prize. Specifically, since the Frontiers Awards were established in 2008, the following laureates have subsequently been honored with a Nobel:
Robert J. Lefkowitz, 2009 BBVA Foundation Frontiers of Knowledge Award in Biomedicine and 2012 Nobel Prize in Chemistry
Shinya Yamanaka, 2010 BBVA Foundation Frontiers of Knowledge Award in Biomedicine and 2012 Nobel Prize in Physiology and Medicine
Lars Peter Hansen, 2010 BBVA Foundation Frontiers of Knowledge Award in Economics, Finance and Management and 2013 Nobel Prize in Economics
Jean Tirole, 2008 Foundation Frontiers of Knowledge Award in Economics, Finance and Management and 2014 Nobel Prize in Economics
Angus Stewart Deaton, 2011 Foundation Frontiers of Knowledge Award in Economics, Finance and Management and 2015 Nobel Prize in Economics.
It is in the economics category that the two award families have converged most closely. Indeed this is the third year running that the Nobel economics prize has gone to a previous winner of the Frontiers of Knowledge Award: Lars Peter Hansen, Jean Tirole, Angus Deaton.
Angus Deaton, laureate in the 2011 Frontiers of Knowledge Awards
In 2011, Angus Deaton was granted the Frontiers of Knowledge Award for his fundamental contributions to the theory of consumption, savings and the measurement of economic wellbeing. The jury noted at the time that “his research applies rigorous methods to important real-world issues. Throughout his career, his work has been characterized by an attempt to understand empirical evidence in terms of a clearly articulated theoretical structure and attention to the behavior underlying the data.”
Among the merits singled out by the BBVA Foundation Frontiers of Knowledge jury in granting Angus Deaton the 2011 award was his contribution to economic scholarship in incorporating consumption as a key measure of welfare and poverty. In the words of its citation: “He has helped us to a better understanding of the relationship between consumption and income, while showing that there are parts of this relationship that do not work and need to be reformulated.”
At the press conference preceding the award ceremony in Madrid, in June 2012, Deaton expressed concern that economic expansion in countries like India or China was widening the gap between rich and poor, while insisting that, despite this fact, their rate of growth was doing much to improve the lives of the poorest people: “We must not yield to the temptation to proclaim from the outside that their growth is bad because it only increases inequality, for that is not the case.”
The BBVA Foundation Frontiers of Knowledge Awards
The BBVA Foundation established its Frontiers of Knowledge Awards in 2008 to recognize the authors of outstanding contributions and radical advances in a broad range of scientific, technological and artistic areas congruent with the knowledge map of the late 20th and 21st centuries, and others that address central challenges, such as climate change and development cooperation, deserving of greater visibility and recognition. Their eight categories include classical areas like Basic Sciences (Physics, Chemistry and Mathematics) and Biomedicine, and other, more recent areas characteristic of our time, ranging from Information and Communication Technologies, Ecology and Conservation Biology, Climate Change and Economics, Finance and Management to Development Cooperation and the innovative realm of artistic creation that is Contemporary Music.
The juries in each category are made up of leading international experts in their respective fields, who arrive at their decisions in a wholly independent manner, applying internationally recognized metrics of excellence. The BBVA Foundation is aided in the organization of the awards by the Spanish National Research Council (CSIC), the country’s premier multidisciplinary research body.
Link to Spanish and English-language videos of Angus Deaton:
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Video announcement of the BBVA Foundation Frontiers of Knowledge Award winner in Spanish and English
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Video of press conference offered by Angus Deaton in the BBVA Foundation on the occasion of the Frontiers of Knowledge award ceremony, in Spanish and English
For more information, contact the BBVA Foundation Department of Communication and Institutional Relations (+34 91 374 5210, 91 374 8173, 91 537 3769/comunicacion@fbbva.es) or visit www.fbbva.es
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