A picture of British economist Angus Deaton, winner of the 2015 economics Nobel Prize, is seen on a screen. REUTERS/Maja Suslin/TT News Agency
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Scottish economist Angus Deaton has won the Nobel memorial prize in economic sciences for "his analysis of consumption, poverty, and welfare," the Royal Swedish Academy of Sciences said Monday.Last year, French economist Jean Tirole won the 8 million Swedish kronor (about $975,000) award for his research on market power and regulation.The economics award is not a Nobel Prize in the same sense as the others, which were created by Swedish industrialist Alfred Nobel in 1895 .Sweden's central bank added the economics prize in 1968 as a memorial to Nobel.
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