The Royal Swedish Academy of Sciences has decided to award the 2022 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig “for research on banks and financial crises.”

Process of nomination and selection

The Economic Sciences Prize Committee sends confidential forms to persons who are competent and qualified to nominate, according to nobelprize.org

Qualified Nominators

The right to submit proposals for the award of a Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel shall, by statute, be enjoyed by:

1. Swedish and foreign members of the Royal Swedish Academy of Sciences;
2. Members of the Prize Committee for the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel;
3. Persons who have been awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel;
4. Permanent professors in relevant subjects at the universities and colleges in Sweden, Denmark, Finland, Iceland and Norway;
5. Holders of corresponding chairs in at least six universities or colleges, selected for the relevant year by the Academy of Sciences with a view to ensuring the appropriate distribution between different countries and their seats of learning; and
6. Other scientists from whom the Academy may see fit to invite proposals.

Decisions as to the selection of teachers and scientists referred to in paragraphs 5 and 6 above shall be taken each year before the end of the month of September.

Selection of economic sciences laureates

The Royal Swedish Academy of Sciences is responsible for the selection of the economic sciences laureates from among the candidates recommended by the Economic Sciences Prize Committee. The Committee is the working body that screens the nominations and selects the final candidates. It consists of five members, but for many years the Committee has included adjunct members with the same voting rights as members.

Who is eligible for the prize in economic sciences?

The candidates eligible for the prize in economic sciences are those nominated by qualified persons who have received an invitation from the Economic Sciences Prize Committee to submit names for consideration. No one can nominate himself or herself.

Are the nominations made public?

The statutes of the Nobel Foundation restrict disclosure of information about the nominations, whether publicly or privately, for 50 years. The restriction concerns the nominees and nominators, as well as investigations and opinions related to the award of a prize.

Not a Nobel Prize

The prize in economic sciences is not a Nobel Prize. In 1968, Sveriges Riksbank (Sweden’s central bank) instituted “The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel”, and it has since been awarded by the Royal Swedish Academy of Sciences according to the same principles as for the Nobel Prizes that have been awarded since 1901. The first prize in economic science was awarded to Ragnar Frisch and Jan Tinbergen in 1969.