By Canadian Press

The Latest: 3 awarded economics Nobel for study on poverty

Oct 14, 2019 | 3:02 AM

STOCKHOLM — The Latest on the Nobel prize in economics (all times local):

11:50 a.m.

The Nobel prize in economics has been awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer “for their experimental approach to alleviating global poverty.”

The Royal Swedish Academy of Sciences announced the prize on Monday.

The prize — officially known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel — wasn’t created by the prize founder, but it is considered to be part of the Nobel stable of awards.

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The prize was created by Riksbanken, the Swedish central bank, in 1968, and the first winner was selected a year later.

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8:55 a.m.

The Royal Swedish Academy of Sciences will announce the last Nobel winner later Monday, when it awards its prestigious economics prize.

The prize — officially known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel — wasn’t created by the prize founder, but it is considered to be part of the Nobel stable of awards.

The prize was created by Riksbanken, the Swedish central bank, in 1968, and the first winner was selected a year later.

With the glory comes a 9-million kronor ($918,000) cash award, a gold medal and a diploma.

The laureates receive them at elegant ceremonies on Dec. 10 — the anniversary of Nobel’s death in 1896 — in Stockholm.

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Read more stories on the 2019 Nobel Prizes by The Associated Press at https://www.apnews.com/NobelPrizes

The Associated Press