Particle physics experiments

Nobel Prize in Shared Economy for “natural experiments” that answer questions

Copenhagen, October 11 (EFE) .- David Card, Joshua D Angrist and Guido W Imbens received the 2021 Nobel Prize in Economics on Monday for cutting-edge “natural experiments” that help answer questions important to society, l ‘Royal Swedish Academy of Sciences mentioned.

All three researchers are based in the United States: Card is at the University of California at Berkeley, Angrist at the Massachusetts Institute of Technology in Cambridge, and Imbens at Stanford University.

Half of the prize went to Canadian Card for “his empirical contributions to the economics of labor”, while the other half went jointly to Angrist and Imbens, born in the Netherlands, for “their methodological contributions to the economy of labor”. ‘causal relationship analysis’.

The winners have shown that it is possible to answer many of the big social science questions that deal with cause and effect using natural experiments, according to the academy.

“The key is to use situations in which fortuitous events or policy changes cause groups of people to be treated differently, in a way that resembles clinical trials in medicine,” he said.

This year’s prize for economics is 10 million Swedish kronor ($ 1.1 million), similar to other Nobel prizes awarded for medicine, physics, chemistry, literature and peace. which were announced last week.

ber-alc / smq / ch

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