How was Maurice Allais awarded the Noble Prize in Economics?

Name: Maurice Allais.
Real Name: Maurice Félix Charles Allais.
Country:  France.
Date of Birth: May 31, 1911.
Died: October 09, 2010.
Education: Graduate from the École Polytechnique in Paris, Economics at the École Nationale Supérieure des Mines de Paris, and Doctor-engineer from the University of Paris.
Subjects Of Study: Monopoly allocation of resources price regulation.
Popularly Known: Market equilibrium and efficiency.
Noble Prize Year: Nobel Prize for Peace in 1988, for his pioneering contributions to the theory of markets and efficient utilization of resources.