Angus Deaton, a British microeconomist and Princeton professor, has won the Nobel Prize in economics “for his analysis of consumption, poverty, and welfare," the Royal Swedish Academy of Sciences announced on Monday. Deaton is best known for his work on the choices that individual consumers make. "By linking detailed individual choices and aggregate outcomes, his research has helped transform the fields of microeconomics, macroeconomics, and development economics," the Academy said.
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