Canadian

David Card

and Americans

Joshua D. Angrist

and Dutch-American

Guido W. Imbens

are the winners of the 2021 Nobel Prize in Economics. Card has been awarded for "his empirical contributions" to labor economics, while Angrist and Imbens they receive the award for "their methodological contributions to the analysis of causal relationships."

The three winners are thus succeeded by economists Paul R. Milgrom and Robert B. Wilson, who won the award in 2020.

The Royal Swedish Academy of Sciences valued that the winners "have shown that many of the great questions of society can be answered," according to Efe.

"Their solution is to use natural experiments, situations that arise in real life that resemble random experiments," explains the institution.

Likewise, they consider that the three "have provided new knowledge about the labor market and have shown what conclusions about cause and effect can be drawn from natural experiments", an approach that "has spread to other fields" and "has revolutionized research empirical ".

David Card received his doctorate in economics in 1983 from Princeton University.

He has developed a large part of his academic and research career at this institution.

With his experiments, he has analyzed "the effects of the minimum wage, immigration and education on the labor market," argues the institution.

Card also won the BBVA Foundation Frontiers of Knowledge Award in Economics in 2014.

For their part, Angrist and Imbens "showed what conclusions about cause and effect can be drawn from natural experiments."

"The framework they developed has been widely adopted by researchers working with observational data," continues the Academy.

According to the criteria of The Trust Project

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