HELSINKI, Oct. 14 (Xinhua) -- The Royal Swedish Academy of Sciences decided on Monday to award the 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Daron Acemoglu, Simon Johnson and James A. Robinson.

This trio, consisting of Daron Acemoglu and Simon Johnson, professors of the Massachusetts Institute of Technology, and James A. Robinson, professor of the University of Chicago, has been honored "for studies of how institutions are formed and affect prosperity."

The prize includes 11 million Swedish Krona (approximately 1 million U.S. dollars). Established in 1968 by Sweden's central bank Sveriges Riksbank, the prize has been awarded since 1969 by the Royal Swedish Academy of Sciences, which selects the laureates in economic sciences. Enditem

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