Short answers, pulled from the story.
The Nobel Memorial Prize in Economic Sciences was established in 1968 by Sveriges Riksbank, Sweden's central bank, to mark the bank's 300th anniversary and to honor the memory of Alfred Nobel. The first prize was awarded in 1969.
The first Prize in Economic Sciences was awarded in 1969 to Dutch economist Jan Tinbergen and Norwegian economist Ragnar Frisch, recognized for having developed and applied dynamic models for the analysis of economic processes.
No. The Prize in Economic Sciences was not established by Alfred Nobel's will and is not one of the original five Nobel Prizes. It was created by Sveriges Riksbank in 1968, though it is administered by the Nobel Foundation and awarded at the same ceremony.
Three women have received the prize: Elinor Ostrom in 2009, Esther Duflo in 2019, and Claudia Goldin in 2023. Goldin was the first woman to win the award solo.
Critics including Peter Nobel, a great-grandnephew of Alfred Nobel, argue the prize misuses the Nobel name and that Alfred Nobel would not have wanted it. Specific awards to Milton Friedman in 1976 and Robert Aumann in 2005 triggered protests, and Friedrich Hayek used his 1974 banquet speech to argue the prize grants economists undue authority over politicians and the public.
Each September, the Royal Swedish Academy of Sciences' five-member Economics Prize Committee invites thousands of scientists and professors worldwide to submit nominations, with all proposals due before the 1st of February. No more than three people may share the prize in a single year, candidates must be living at the time of the October announcement, and nomination details remain sealed for fifty years.