The Erwin Plein Nemmers Prize in Economics is an academic prize awarded biennially by Northwestern University.
Both are part a $14 million donation from the Nemmers brothers, who envisioned creating an award that would be as prestigious as the Nobel prize.
Nine out of the past 15 Nemmers economics prize winners have gone on to win a Nobel Prize : Peter Diamond, Thomas J. Sargent, Robert Aumann, Daniel McFadden, Edward C. Prescott, Lars Peter Hansen, Jean Tirole,[1] Paul R. Milgrom and, most recently, Claudia Goldin.
The Nemmers prizes are given in recognition of major contributions to new knowledge or the development of significant new modes of analysis in the respective disciplines.
As of 2023, the prize carries a $300,000 stipend, among the largest monetary awards in the United States for outstanding achievements in economics.