Goran K Hansson, Secretary General of the Royal Swedish Academy of Sciences, center, and academy members Peter Fredriksson, left, and Jakob Svensson announce the winners of the 2019 Nobel Prize in Economics during a news conference at the Royal Swedish Academy of Sciences in Stockholm, Sweden, Monday Oct. 14, 2019. The Nobel prize in economics has been awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer "for their experimental approach to alleviating global poverty." (Karin Wesslen/TT via AP)

The Latest: Duflo 'humbled' to win economics Nobel Prize

October 14, 2019 - 3:37 am

STOCKHOLM (AP) — The Latest on the Nobel prize in economics (all times local):

12:30 p.m.

France's Esther Duflo says she is "incredibly humbled" to be the second woman to win the Nobel Prize in Economic Sciences.

Speaking by telephone to the Royal Swedish Academy of Sciences, the 46-year-old said the prize came "at an extremely opportune and important time."

Duflo said the award shows that "it is possible for a woman to succeed and be recognized for success."

She hoped her award is "going to inspire many, many other women to continue working and many other men to give them the respect that they deserve like every single human being."

Duflo, along with Abhijit Banerjee and Michael Kremer were awarded the prize for their "experimental approach to alleviating global poverty."

"Their experimental research methods now entirely dominate development economics," the Royal Swedish Academy of Sciences said.

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11:50 a.m.

The Nobel prize in economics has been awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer "for their experimental approach to alleviating global poverty."

The Royal Swedish Academy of Sciences announced the prize on Monday.

The prize — officially known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel — wasn't created by the prize founder, but it is considered to be part of the Nobel stable of awards.

The prize was created by Riksbanken, the Swedish central bank, in 1968, and the first winner was selected a year later.

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8:55 a.m.

The Royal Swedish Academy of Sciences will announce the last Nobel winner later Monday, when it awards its prestigious economics prize.

The prize — officially known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel — wasn't created by the prize founder, but it is considered to be part of the Nobel stable of awards.

The prize was created by Riksbanken, the Swedish central bank, in 1968, and the first winner was selected a year later.

With the glory comes a 9-million kronor ($918,000) cash award, a gold medal and a diploma.

The laureates receive them at elegant ceremonies on Dec. 10 — the anniversary of Nobel's death in 1896 — in Stockholm.

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Read more stories on the 2019 Nobel Prizes by The Associated Press at https://www.apnews.com/NobelPrizes