STOCKHOLM – The last of the Nobel prizes to be awarded this year is something of an outlier — Alfred Nobel's will didn't call for its establishment and it honors a science that many doubt is a science at all.
The Sveriges Riksbank (Swedish National Bank) Prize in Economic Sciences in Memory of Alfred Nobel was first awarded in 1969, nearly seven decades after the series of prestigious prizes that Nobel called for. Despite its provenance and carefully laborious name, it is broadly considered an equal to the other Nobel and the winner attends the famed presentation banquet.
The winner of the 9-million-kronor ($1.1-million) prize will be announced Monday.
Even well-known recipient Friedrich Hayek expressed misgivings about it, saying the prize may unwisely "strengthen the influence of a few individual economists."