This year’s Nobel Prize in Economics has been shared between the Canadian David Card, the American Joshua Angrist and the Dutch Guido Imbens.
When the award was announced on Monday, it was noted that the three economists used natural experiments to “answer important questions from society.”
Half of the award goes to David Card for his contribution to the economics of labor, while the other is shared by Angrist and Imbens for “his methodological contributions to the analysis of casual relationships“.
The award ceremony will be on December 10 in Stockholm. The prize, which will be divided by the three, is SEK 10 million, the equivalent of approximately US $ 1.1 million.
The Royal Swedish Academy of Sciences said the three had “rfully formed empirical work in economics“.
“Card’s studies on issues fundamental to society and the methodological contributions of Angrist and Imbens have shown that natural experiments are a rich source of knowledge,” said Peter Fredriksson, chairman of the Committee on Economic Sciences.
“His research has substantially improved our ability to answer key causal questions, which has been of great benefit to society.”
The most prestigious
The Nobel Prize in Economics is the last to be awarded annually.
Unlike the rest, he is not one of the original Nobel.
It was created by the Swiss Central Bank, Sveriges Riskbank, in 1968. Still, it is the most prestigious award in the world in the area of Economics.
Last year, the award was awarded to US economists Paul Milgrom and Robert Wilson for “improvements in auction theory and inventions of new auction formats.”
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