The 2021 Nobel Prize in Economics has been awarded one half to David Card and the other half jointly to Joshua D Angrist and Guido W Imbens, announced the award-giving organisation on Monday.
The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021 with one half to David Card "for his empirical contributions to labour economics" and the other half jointly to Joshua Angrist and Guido Imbens "for their methodological contributions to the analysis of causal relationships".
"This year's Laureates - David Card, Joshua Angrist and Guido Imbens - have provided us with new insights about the labour market and shown what conclusions about cause and effect can be drawn from natural experiments. Their approach has spread to other fields and revolutionised empirical research," read The Nobel Prize statement.
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With inputs from ANI.