Stockholm: David Card, Joshua Angrist, and Guido Imbens have been awarded the 2021 Nobel Prize in Economics by the Royal Swedish Academy Monday.
The Prize was awarded to three economists who used natural experiments — those arising in real life.
Angrist and Imbens received the other half of the award for “demonstrating how precise conclusions about cause and effect can be drawn from natural experiments”.
The 2021 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded with one half to David Card and the other half jointly to Joshua D. Angrist and Guido W. Imbens.#NobelPrize pic.twitter.com/nkMjWai4Gn
— The Nobel Prize (@NobelPrize) October 11, 2021
Card, at the University of California, Berkeley, was given half of the award for analysing “the labour market effects of minimum wages, immigration and education”.
Last year’s economics prize went to two American economics from Stanford University, Paul Milgrom and Robert Wilson, who figured out how to make auctions work more efficiently.