NOBEL PRIZE WINNERS
Angus Deaton
- I was born in Edinburgh, Scotland, in 1945. In 1983, I joined the faculty of Princeton University.
- I won the Nobel Prize in Economics for my analysis of consumption, poverty, and welfare.
- My study of consumer savings led to an empirical realization that surprised me as well as others.
- I discovered that people who experience income shocks do not substantively alter their consumption behavior. This is called the Deaton Paradox.