The Royal Swedish Academy of Sciences awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021 to three Laureates: David Card of the University of California, Berkeley, Joshua Angrist of Massachusetts Institute of Technology, and Guido Imbens of Stanford University. This year's Laureates were recognized for their insights about how natural experiments can be used to answer central questions for society, such as how minimum wages and immigration affect the labor market. They also clarified which conclusions about cause and effect can be drawn using this research approach.
Peter Fredriksson, Chair of the Economic Sciences Prize Committee, mentioned "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[.]"
Vega congratulates this year's Laureates!