Nobel Economics Prize Is Awarded to U.S.-Based Trio
Written by Black Hot Fire Network on October 11, 2021
The Nobel Prize in Economic Sciences was awarded to
David Card,
Joshua D. Angrist
and
Guido W. Imbens
for their work on natural experiments, in particular their contributions to better understanding how the job market works.
Economics and other social sciences have limited opportunities for carrying out the randomized experiments that allow researchers in the physical sciences to test causal relationships, for both practical and ethical reasons.
But over recent decades, the work of the three winners has helped economists make better use of natural experiments, in which some people are randomly subjected to a . . .
