David Card, Joshua D Angrist and Guido W Imbens win Nobel Prize 2021 in Economics

David Card, Joshua D Angrist and Guido W Imbens. ((Image: Twitter/ The Nobel Prize)

The Norwegian Nobel Committee has decided to award the 2021 Sveriges Riksbank Prize in Economic Sciences to David Card, Joshua D. Angrist and Guido W. Imbens. The prize has been awarded with one half to Card, while other half jointly to Angrist and Imbens.

BREAKING NEWS:
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

The Norwegian Nobel Committee said that three US-based economists have won the prize for their work on drawing conclusions from unintended experiments, or so-called “natural experiments.”

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While David Card is from University of California at Berkeley, Joshua Angrist is from the Massachusetts Institute of Technology and Guido Imbens is from Stanford University.

Card has been chosen for the prestigious 2021 Sveriges Riksbank Prize in Economic Sciences for his 'empirical contributions to labour economics', while Angrist and Imbens have been awarded for their 'methodological contributions to the analysis of casual relationships'.

The Royal Swedish Academy of Sciences said the three have “completely reshaped empirical work in the economic sciences.”

Earlier, the Norwegian Nobel Committee has decided to award the 2021 Nobel Peace Prize to Maria Ressa and Dmitry Muratov for their efforts to safeguard freedom of expression, which is a precondition for democracy and lasting peace.

Also the Nobel Assembly announced on October 4 that researchers David Julius and Ardem Patapoutian have been jointly awarded the 2021 Nobel Prize in 'physiology or medicine' category. The honour was bestowed upon them "for their discoveries of receptors for temperature and touch," it said.