The Nobel Prize in Economics was awarded to David Card and, jointly, to Joshua D. Angrist and Guido W. Imbens. All three economists awarded the award teach in the United States at the University of California (Card), Mit (Angrist) and Stanford (Imbens) respectively. This was announced by the Royal Swedisch Academy on 11 October, explaining that the winners “have provided us with new information on the labor market and have shown what conclusions about cause and effect can be drawn from natural experiments. Their approach has spread to other fields and revolutionized empirical research ».
Nobel Prize in Economics, when it was born and who won it
Economics was not one of the five disciplines originally contemplated by Alfred Nobel for his prize, namely physics, chemistry, medicine, literature and peace. In 1968 the Swedish Central Bank (Sveriges Riksbank) decided to institute an ad hoc prize, recognized a posteriori as an honor «in memory of Alfred Nobel» and included under the wing of the foundation. Between 1969 and 2020 the medal was awarded 52 times to a total of 86 laureates, in a list ranging from Friedrich von Hayek to Joseph Stiglitz, from Franco Modigliani (the only Italian to obtain the recognition) to Amartya Sen. to Stanford University economists Paul R. Milgrom and Robert B. Wilson.