World

The Latest: Winner or winners of Nobel economics prize to be revealed in Stockholm

A view of the screen showing an image of Professor Angus Deaton, winner of the 2015 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, as the Permanent Secretary for the Royal Swedish Academy of Sciences addresses a press conference to announce the winner of the prize, at the Royal Swedish Academy of Science, in Stockholm, Sweden, Monday, Oct. 12, 2015. Scottish economist Angus Deaton has won the Nobel memorial prize in economic sciences for "his analysis of consumption, poverty, and welfare," the Royal Swedish Academy of Sciences said Monday.  (Maja Suslin/TT News Agency via AP)

A view of the screen showing an image of Professor Angus Deaton, winner of the 2015 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, as the Permanent Secretary for the Royal Swedish Academy of Sciences addresses a press conference to announce the winner of the prize, at the Royal Swedish Academy of Science, in Stockholm, Sweden, Monday, Oct. 12, 2015. Scottish economist Angus Deaton has won the Nobel memorial prize in economic sciences for "his analysis of consumption, poverty, and welfare," the Royal Swedish Academy of Sciences said Monday. (Maja Suslin/TT News Agency via AP)  (The Associated Press)

Latest developments in the announcements of the Nobel Prizes (all times local):

9:35 a.m.

The winner or winners of this year's Nobel economics prize will be announced at 11 a.m. GMT by a committee at the Royal Swedish Academy of Sciences in Stockholm.

Last year, French economist Jean Tirole won the 8 million Swedish kronor (about $975,000) award for his research on market power and regulation.

The revelation follows announcements last week of the winners of the Nobel Prizes in medicine, chemistry, physics, literature and peace.

The economics award is not a Nobel Prize in the same sense as the others, which were created by Swedish industrialist Alfred Nobel in 1895.

Sweden's central bank added the economics prize in 1968 as a memorial to Nobel.