Angus Deaton, a British microeconomist and Princeton professor, has won the Nobel Prize in economics “for his analysis of consumption, poverty, and welfare," the Royal Swedish Academy of Sciences announced on Monday. Deaton is best known for his work on the choices that individual consumers make. "By linking detailed individual choices and aggregate outcomes, his research has helped transform the fields of microeconomics, macroeconomics, and development economics," the Academy said. BREAKING NEWS The 2015 Prize in Economic Sciences is awarded to 69 years old Angus Deaton @Princeton #NobelPrize pic.twitter.com/1XJL8JsHem — The Nobel Prize (@NobelPrize) October 12, 2015 Established in 1968, the economics prize is the newest of the Nobels; since, Americans have won 80 percent of the awards.