US-based trio wins Nobel economics prize

Three US-based economists won the 2021 Nobel prize for economics on Monday for work on drawing conclusions from unintended experiments, or so-called “natural experiments.”

Goran Hansson, Secretary-General, Royal Swedish Academy of Sciences said "The Royal Swedish Academy of Sciences has today decided to award Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel with one half to David Card for his empirical contributions to labour economics. And the other half, jointly, to Joshua D. Angrist and Guido W. Imbens for their methodological contributions to the analysis of causal relationships."

The three have “completely reshaped empirical work in the economic sciences.”