3 American economists receive the Nobel Prize in economics

STOCKHOLM (AP) – Three US-based economists won the 2021 Nobel Prize in Economics on Monday for their work to draw conclusions from unintentional experiments, or so-called “natural experiments”.

David Card of the University of California at Berkeley received half of the prize, while the other half was shared by Joshua Angrist of the Massachusetts Institute of Technology and Guido Imbens of Stanford University.

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

“Card’s studies on fundamental questions for society and the methodological contributions of Angrist and Imbens have shown that natural experiments are a rich source of knowledge,” said Peter Fredriksson, Chairman of the Committee on Economics. “Their research has dramatically improved our ability to answer key causal questions, which has been of great benefit to society. “

Unlike other Nobel Prize winners, the economics prize was not established in Alfred Nobel’s will but by the Swedish central bank in his memory in 1968, the first winner being selected a year later. This is the last price announced each year.

Last week, the 2021 Nobel Peace Prize was awarded to journalists Maria Ressa of the Philippines and Dmitry Muratov of Russia for their fight for freedom of expression in countries where reporters have faced persistent attacks, harassment and even murder.

Ressa was the only woman honored this year in all categories.

The Nobel Prize for Literature was awarded to UK-based Tanzanian writer Abdulrazak Gurnah, who has been recognized for his “uncompromising and compassionate penetration of the effects of colonialism and the plight of the refugee”.

The price of physiology or medicine went to Americans David Julius and Ardem Patapoutian for their discoveries on how the human body perceives temperature and touch it.

Three scientists won the physics prize for work that has tidied up apparent disorder, helping to explain and predict the complex forces of nature, including expanding our understanding of climate change.

Benjamin List and David WC MacMillan won the chemistry award to find a simpler, more environmentally friendly way to build molecules that can be used to make compounds, including drugs and pesticides.

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Read more articles on past and present Nobel Prizes by The Associated Press at https://www.apnews.com/NobelPrizes


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