USA economists David Card, Joshua Angrist, and Guido Imbens Wins 2021 Nobel Memorial Prize in Economic Sciences

The Nobel Memorial Prize in Economic Sciences was been awarded to three United States-based economists — David Card, Joshua Angrist, and Guido Imbens — the Royal Swedish Academy of Sciences said in Stockholm.

The second half has been awarded jointly to Joshua D. Angrist and Guido W. Imbens “for their methodological contributions to the analysis of causal relationships.”

The 2021 winners have “provided us with new insights about the labor market and shown what conclusions about cause and effect can be drawn from natural experiments,” the prize committee said in a statement. “Their approach has spread to other fields and revolutionized empirical research.”

The award is officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021. The laureates in economic sciences are selected by the Royal Swedish Academy of Sciences in Stockholm.

It comes with a gold medal and a cash award of 10 million Swedish krona ($1.12 million).