AP - Angus Deaton wins Nobel Economics Prize
Angus Deaton of Princeton University won the Nobel prize in Economics for improving understanding of poverty. His research has explored how people, particularly the poor, make decisions about what to buy and how much to save. Deaton's early research into theories of consumption and survey techniques helped bridge the divide between those who study the choices of individuals and those who study the larger economy. In recent decades, he has spent much of his time using those ideas to investigate poverty in developing nations, especially India and South Africa.