Johan Jarnestad / The Royal Swedish Academy of Sciences On Monday, the Royal Swedish Academy of Sciences announced that Angus Deaton of Princeton University is the winner of the 2015 Prize in Economic Sciences in Memory of Alfred Nobel "for his analysis of consumption, poverty, and welfare." On a call with reporters on Monday morning, Deaton said that he was “pretty sleepy” when he got the Nobel call, but that he was also “surprised and delighted.” The Nobel committee said that three areas of Deaton’s work is being recognized: first, his work on demand systems on how consumers distribute spending in order to forecast consumption patterns; second, his work linking consumption and income on the individual and aggregate level; and third, his more recent research on household surveys, which has led to a greater understanding about how poverty affects living standards.