How was Trygve Haavelmo awarded the Noble Prize in Economics?

Name: Trygve Haavelmo.
Real Name: Trygve Magnus Haavelmo.
Country: Norway.
Date of Birth: December 13, 1911.
Died: July 26, 1999.
Education: Degree in economics from the University of Oslo in 1930, and he studied statistics at University College London.
Subjects Of Study: Economic forecasting econometrics.
Popularly Known: Identification problems and analysis of simultaneous economic equations.
Noble Prize Year: Nobel Prize for Peace in 1989, for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures.