The Latest: 3 awarded economics Nobel for study on poverty

The Latest: 3 awarded economics Nobel for study on poverty
FILE - In this Monday, Dec. 10, 2018 file photo, a bust of the Nobel Prize founder, Alfred Nobel on display at the Concert Hall during the Nobel Prize award ceremony in Stockholm. Controversy stalks the Nobel prizes for peace and literature in a way it rarely does for science. The revamped panel at the Swedish Academy who will hand out the Nobel literature prizes Thursday Oct. 10, 2019, for both 2018 and 2019 would relish arguments about the winners, rather than intrigue about the #MeToo scandal that forced the institution to suspend the prize last year. (Henrik Montgomery/Pool Photo via AP, File)

STOCKHOLM (AP) — The Latest on the Nobel prize in economics (all times local):

11:50 a.m.

The Nobel prize in economics has been awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer “for their experimental approach to alleviating global poverty.”

The Royal Swedish Academy of Sciences announced the prize on Monday.

The prize — officially known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel — wasn’t created by the prize founder, but it is considered to be part of the Nobel stable of awards.

The prize was created by Riksbanken, the Swedish central bank, in 1968, and the first winner was selected a year later.

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8:55 a.m.

The Royal Swedish Academy of Sciences will announce the last Nobel winner later Monday, when it awards its prestigious economics prize.

The prize — officially known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel — wasn’t created by the prize founder, but it is considered to be part of the Nobel stable of awards.

The prize was created by Riksbanken, the Swedish central bank, in 1968, and the first winner was selected a year later.

With the glory comes a 9-million kronor ($918,000) cash award, a gold medal and a diploma.

The laureates receive them at elegant ceremonies on Dec. 10 — the anniversary of Nobel’s death in 1896 — in Stockholm.

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Read more stories on the 2019 Nobel Prizes by The Associated Press at https://www.apnews.com/NobelPrizes