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<div id='article-page'><div id='article-content' data-media-url='//news-app-staging.s3.amazonaws.com' data-base-url='//news-app-staging.herokuapp.com' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/nobel_.mp3' data-capture-url='//staging.analytics.lingraphica.com/events/capture_news' data-article-title='Nobel Prize Winner Studied How People Spent Their Money' data-article-id='919'><script src='//news-app-staging.herokuapp.com/javascripts/getscripts.js'></script><link rel='stylesheet' href='//news-app-staging.herokuapp.com/stylesheets/article.css' type='text/css' /><div class='article'><p><span data-start-time='0' data-end-time='8980'>The winner of the 2015 Nobel Prize in Economic Sciences studies how people spend their money. </span> <span data-start-time='8980' data-end-time='17596'>He also has explored how spending can affect both living conditions and poverty.</span> </p><p><span data-start-time='17596' data-end-time='29615'>The Royal Swedish Academy of Sciences is presenting the Economics Prize to Professor Angus Deaton of Princeton University in New Jersey. </span> <span data-start-time='29615' data-end-time='43560'>The Nobel committee says his research has mainly dealt with three questions: How do consumers distribute their spending among different goods? </span> <span data-start-time='43560' data-end-time='49955'>How much of society's wealth is spent and how much is saved? </span> <span data-start-time='49955' data-end-time='56395'>And, how do we best measure and study well-being and poverty?</span> </p><p><span data-start-time='56395' data-end-time='66553'>Mr. Deaton used household surveys to collect detailed information about how families spend their money. </span> <span data-start-time='66553' data-end-time='79796'>For example in one study, the Princeton professor examined the relationship between poverty and the amount of calories in the food people ate.</span> </p><p><span data-start-time='79796' data-end-time='103016'>The Nobel committee said Mr. Deaton’s research has shown "how the clever use of household data can shed light on issues such as the relationship between income and calorie intake, and the extent of gender discrimination with the family."</span> </p><p><span data-start-time='103016' data-end-time='111020'>The Princeton professor was asked why he paid so much attention to household information. </span> <span data-start-time='111020' data-end-time='118889'>Mr. Deaton said that his studies were mainly about people and their behavior.</span> </p><p><span data-start-time='118889' data-end-time='134626'>“Well, you know, it's individually it's about people in the end, and if you don't understand you have to understand what makes people tick, and you have to understand, you know, what's good for them. </span> <span data-start-time='134626' data-end-time='144626'>And for me it's always been about trying to understand behavior and to try to infer from that behavior, you know, how people are doing.”</span> </p><p><span data-start-time='144626' data-end-time='156780'>The Nobel committee also praised Mr. Deaton’s work because it used detailed information about real people, not theoretical ideas. </span> <span data-start-time='156780' data-end-time='164127'>Subjects of his research have included happiness, well-being and aging.</span> </p><p><span data-start-time='164127' data-end-time='172993'>At a press conference this week, the Nobel Prize winner said he was pleased that his work had been recognized. </span> <span data-start-time='172993' data-end-time='178322'>He told reporters he believed poverty would decrease. </span> <span data-start-time='178322' data-end-time='185057'>I think we've had a remarkable decrease for the past 20 to 30 years.</span> <span data-start-time='185057' data-end-time='189025'>I do expect that to continue, he said.</span> </p><p><span data-start-time='189025' data-end-time='195601'>Mr. Deaton is a citizen of both the United States and Britain. </span> <span data-start-time='195601' data-end-time='197959'>He was born in Scotland. </span> <span data-start-time='197959' data-end-time='207574'>He has served as a Professor of Economics and International Affairs at Princeton since 1983. </span> <span data-start-time='207574' data-end-time='218776'>The Economics Prize has been offered by Sweden’s central bank in memory of Alfred Nobel since 1969. </span> <span data-start-time='218776' data-end-time='225306'>It is valued this year at $978,000.</span> </p><p><span data-start-time='225306' data-end-time='227619'>I'm Mario Ritter.</span> </p></div><div class='control-buttons-sticky' style='display:none;'><div class='control-buttons'><button title='Back' class='back' disabled='disabled'></button><button title='Play' class='play' disabled='disabled'></button><button title='Pause' class='pause' style='display:none;'></button><button title='Forward' class='forward' disabled='disabled'></button><button class='finished-reading' style='display:none;'>Done</button></div></div></div><div id='article-media'><div id='media-image'><img src='https://news-app-production.s3.amazonaws.com/articles/572/prize_image.jpg'/></div></div><div id='question-content' style='display:none;'><div class='vocabulary_question question-container' data-question-id=4331 data-hint-location='134626' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/what_does_infer_mean.m4a'>What does infer mean?</div><div class='choices' data-correct-choice='to form an opinion based on available evidence'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/the_main_idea.m4a'><span>the main idea</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/to_form_an_opinion_based_on_available_evidence.m4a'><span>to form an opinion based on available evidence</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/people_who_live_in_the_same_home.m4a'><span>people who live in the same home</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/goods_and_services.m4a'><span>goods and services</span></div></div></div><div class='multiple_choice_question question-container' data-question-id=4332 data-hint-location='0' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/what_did_professor_deaton_win.m4a'>What did Professor Deaton win?</div><div class='choices' data-correct-choice='Nobel Prize in Economic Sciences'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/pulitzer_prize.m4a'><span>Pulitzer Prize</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/nobel_prize_in_economic_sciences.m4a'><span>Nobel Prize in Economic Sciences</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/teacher_of_the_year.m4a'><span>Teacher of the Year</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/purple_heart.m4a'><span>Purple Heart</span></div></div></div><div class='sentence_completion_question question-container' data-question-id=4333 data-hint-location='144626' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/the_committee_praised_mr_deatons_work_for_the_use_of_information_about_real__blank_.m4a'>The committee praised Mr. Deaton's work for the use of information about real <span class='blank'>people</span>.</div><div class='choices' data-correct-choice='people'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/people.m4a'><span>people</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/problems.m4a'><span>problems</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/animals.m4a'><span>animals</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/572/games.m4a'><span>games</span></div></div></div><div class='question-buttons'><button class='skip-button'></button><button class='hint-button'></button><button class='speak-button'></button></div></div></div>
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