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David Card, Joshua D Angrist, Guido W Imbens win Economics Nobel

Google Oneindia News

Stockholm, Oct 11: The 2021 Nobel Prize in Economics has been awarded with one half to David Card and the other half jointly to Joshua D. Angrist and Guido W. Imbens.

Image credit: @NobelPrize

2021 economic sciences laureates Joshua Angrist and Guido Imbens showed what conclusions about cause and effect can be drawn from natural experiments. The framework developed by them has been widely adopted by researchers who work with observational data.

Unlike the other Nobel prizes, the economics award wasn't established in the will of Alfred Nobel but by the Swedish central bank in his memory in 1968, with the first winner selected a year later. It is the last prize announced each year.

Last year's prize went to two Stanford University economists who tackled the tricky problem of making auctions run more efficiently.

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