Nobel Prize 2021: Economics prize awarded to American academics from Stanford, UC Berkeley and MIT

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.

“Card’s studies of core questions for society and Angrist and Imbens’ methodological contributions have shown that natural experiments are a rich source of knowledge. Their research has substantially improved our ability to answer key causal questions, which has been of great benefit to society,” says Peter Fredriksson, chair of the Economic Sciences Prize Committee.

David Card, born 1956 in Guelph, Canada completed his PhD in 1983 from Princeton University, USA. He is a Professor of Economics at the University of California, Berkeley, USA.

Joshua D. Angrist, born 1960 in Columbus, Ohio, USA also completed his PhD from Princeton University, USA and is currently serving as Ford Professor of Economics, Massachusetts Institute of Technology, Cambridge, USA.

Guido W. Imbens, born 1963 in Eindhoven, Netherlands completed his PhD from Brown University, Providence, USA. He is currently serving as an Applied Econometrics Professor and Professor of Economics at Stanford University, USA.

The prize amount of 10 million Swedish kronor, one half will go to David Card and the other half jointly to Joshua Angrist and Guido Imbens.

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