How was George Stigler awarded the Noble Prize in Economics?

Name: George Stigler.
Real Name: George Joseph Stigler.
Country: United States.
Date of Birth: January 17, 1911.
Died: December 01, 1991.
Education: BA from University of Washington, Master in Business Administration (MBA) from Northwestern University, and Doctor of Philosophy from University of Chicago.
Subjects Of Study: Market national economy regulation
Popularly Known: Developing the Economic Theory of Regulation.
Noble Prize Year: Nobel Prize for Peace in 1982, for his seminal studies of industrial structures, functioning of markets, and causes and effects of public regulation.