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[00:00.32]The winner of the 2015 Nobel Prize in Economic Sciences 
[00:05.72]studies how people spend their money. 
[00:09.44]He also has explored how spending 
[00:12.56]can affect both living conditions and poverty. 
[00:17.96]The Royal Swedish Academy of Sciences 
[00:20.96]is presenting the Economics Prize to Professor Angus Deaton 
[00:25.96]of Princeton University in New Jersey. 
[00:29.64]The Nobel committee says his research has mainly dealt with three questions: 
[00:37.00]How do consumers distribute their spending among different goods?  
[00:44.08]How much of society's wealth is spent and how much is saved?  
[00:50.24]And, how do we best measure and study well-being and poverty?   
[00:56.16]Mr. Deaton used household surveys to collect detailed information 
[01:02.88]about how families spend their money. 
[01:06.88]For example in one study, 
[01:09.44]the Princeton professor examined the relationship 
[01:13.32]between poverty and the amount of calories in the food people ate.   
[01:19.52]The Nobel committee said Mr. Deaton's research 
[01:24.48]has shown "how the clever use of household data 
[01:29.12]can shed light on issues such as the relationship 
[01:33.64]between income and calorie intake, 
[01:37.28]and the extent of gender discrimination with the family."   
[01:43.48]The Princeton professor was asked why he paid so much attention 
[01:48.32]to household information. 
[01:51.24]Mr. Deaton said that his studies 
[01:54.40]were mainly about people and their behavior.     
[01:59.48]"Well, you know, it's individually... it's about people in the end, 
[02:03.44]and if you don't understand... 
[02:06.20]you have to understand what makes people tick, and you have to understand, 
[02:11.20]you know, what's good for them. 
[02:14.68]And for me it's always been about trying to understand behavior 
[02:19.52]and to try to infer from that behavior, 
[02:22.72]you know, how people are doing."  
[02:24.64]The Nobel committee also praised Mr. Deaton's work 
[02:28.92]because it used detailed information about real people, 
[02:33.92]not theoretical ideas. 
[02:37.12]Subjects of his research have included happiness,
[02:41.32]well-being and aging.  
[02:44.28]At a press conference this week, 
[02:46.80]the Nobel Prize winner said he was pleased 
[02:50.24]that his work had been recognized. 
[02:53.12]He told reporters he believed poverty would decrease. 
[02:58.64]"I think we've had a remarkable decrease for the past 20 to 30 years. 
[03:05.20]I do expect that to continue," he said.  
[03:09.28]Mr. Deaton is a citizen of both the United States and Britain. 
[03:15.68]He was born in Scotland. 
[03:18.28]He has served as a Professor of Economics and International Affairs
[03:23.36]at Princeton since 1983. 
[03:27.96]The Economics Prize has been offered by Sweden's central bank 
[03:33.08]in memory of Alfred Nobel since 1969.  
[03:39.24]It is valued this year at $978,000. 
[03:45.56]I'm Mario Ritter.