Quote

You should always use your Nobel prize money to buy property.

I got my Nobel Prize for my lab work.

The Nobel Prize in Economics is an incredible recognition for the work that my students, colleagues and I have done over the years. We all worked hard, but we were also lucky that the financial applications were so important.

Now I want to use money in a good way. I make foundations back home in Russia, I have sponsored vaccinations for more than one million children in my homeland and I have founded scholarships in the names of my great Russian compatriots - Oistrakh, Richter, Gilels, Shostakovich, Prokofiev and Schnittke.

It is the Nobel Prize I want. It's worth $400,000.

While my parents never had the time or money to secure university education themselves, they were adamant that their children should. In comfort and in love, we were taught the joys of knowledge and of work well done. I only regret that neither my mother nor my father could live to see the day I would accept the Nobel Prize.

My wife thought I deserved it, but I always thought the Nobel a Western prize.

There are just two things you can do to win a Nobel prize - have a good idea and pursue it effectively.

I would love to have had much more money so that I could be a philanthropist.