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Announcement: 13 October 2025
Organiser: Royal Swedish Academy of Sciences
Award Ceremony: 10 December 2025, Oslo, Norway
Prize Amount: 11 million SEK (split among laureates)
Laureates and Contributions
| Nobel Laureate | Affiliation | Contribution / Awarded For |
|---|---|---|
| Joel Mokyr | Northwestern University, USA | Explaining innovation-driven economic growth; identified prerequisites for sustained growth via technological progress. Showed that societies need practical knowledge, scientific understanding, and a culture open to new ideas. |
| Philippe Aghion | Collège de France & INSEAD, France; LSE, UK | Jointly awarded with Peter Howitt for theory of sustained growth through creative destruction; co-developed 1992 model showing how new products/technologies replace old ones, driving productivity and growth. |
| Peter Howitt | Brown University, USA | Emphasized innovation cycles improving living standards, health, quality of life; importance of managing transitions to avoid innovation blockages by vested interests. |
Prize Highlights and History
- Established: 1968 by Sveriges Riksbank on its 300th anniversary.
- First Awarded: 1969 to Ragnar Frisch (Norway) & Jan Tinbergen (Netherlands).
- Medal Design:
- Obverse: Portrait of Alfred Nobel + crossed horns of plenty (bank symbol)
- Reverse: North Star emblem of Royal Swedish Academy of Sciences + “Kungliga Vetenskaps Akademien”
- Components: Gold medal, personal diploma, and cash award.
