Angus Deaton received the 2015 Nobel Memorial Prize in Economic Sciences for analyzing consumption, poverty, and welfare.
The Royal Swedish Academy of Sciences recognized Deaton for his analysis of consumption, poverty, and welfare. His work connected broad economic questions to detailed evidence about what households buy, how they respond to prices and income, and how living standards should be measured.
One important contribution was the use of household data to study demand. This approach helps economists understand how consumers allocate spending among food, housing, health care, and other goods. It also provides a more grounded way to assess poverty and welfare than relying only on national averages.
Deaton was born in Edinburgh and later became a professor at Princeton University. He was the sole recipient of the 2015 economics prize, a detail that distinguishes him from many years when the award was shared.