Nobel Prize for Economics awarded to David Card, Joshua Angrist and Guido Imbens of America


The 2021 Nobel Prize in Economics was awarded to David Card, Joshua Angrist and Guido Imbens. All three American economists have won the Nobel Prize for their work on drawing conclusions from unexpected experiments or so-called “natural experiments”.

News Nation Bureau | Edited By : Vijay Shankar | Updated on: 11 Oct 2021, 04:53:56 PM

Nobel prize in economics (Photo Credit: ANI)

highlights

  • Nobel Prize 2021 awarded to David Card, Joshua Angrist and Guido Imbens
  • Awarded for his methodological contribution to the analysis of causal relationships
  • Last year’s award went to Paul R. Milgrom and Robert B. Wilson

Stockholm:

The 2021 Nobel Prize in Economics was awarded to David Card, Joshua Angrist and Guido Imbens. The Nobel Committee awarded half of the prize to David Card for his empirical contributions to labor economics, and the other half jointly to Joshua d’Angrist and Guido W. Imbens for their methodological contributions to the analysis of causal relationships. Winning prizes include David Card of the University of California at Berkeley, Joshua Angrist from the Massachusetts Institute of Technology, and Guido Imbens from Stanford University. The Royal Swedish Academy of Sciences stated that all three had completely replaced empirical work in the economic sciences.

Last year’s award went to Paul R. Milgrom and Robert B. Wilson, two Stanford University economists who presented a solution to the difficult problem of conducting auctions more efficiently. Unlike other Nobel Prizes, the Nobel Prize in Economics was not instituted in the will of Alfred Nobel but was instituted by the Swedish central bank in his memory in 1968, with the first winner being chosen a year later. This is the last Nobel Prize announced each year. Last week, the 2021 Nobel Peace Prize was awarded to Philippine journalist Maria Resa and Russia’s Dmitry Muratov for their fight for freedom of expression in countries where journalists are constantly subjected to attacks, harassment and even murder. has suffered. The Nobel in Literature was awarded to a Tanzanian writer, Abdulrazak Gurnah, who lives in Britain.



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First Published : 11 Oct 2021, 04:53:56 PM

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