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Who among the following has/have awarded with the 2021 Nobel Prize for Economic Sciences?

Who among the following has/have awarded with the 2021 Nobel Prize for Economic Sciences? Correct Answer All 1, 2 and 3

The correct answer is David Card, Joshua D Angrist and Guido W Imbens.

Key Points

  • The 2021 Nobel Prize for Economic Sciences has been awarded in one half to Canadian David Card and the other half jointly to Israeli-American Joshua D Angrist and Dutch-American Guido W Imbens.
  • David analysed the labour market effects of minimum wages, immigration and education.
  • While the rest 2 got the prize “for their methodological contributions to the analysis of causal relationships."

Important Points

  • The prize winners share share a sum of 10 million Swedish crowns or $1.14 million.
  • David Card:
    • David Card is a Canadian labour economist and Professor of Economics at the University of California, Berkeley.
    • The results of his studies showed, among other things, that increasing the minimum wage does not necessarily lead to fewer jobs.
  • Joshua D Angrist and Guido W Imbens:
    • In the mid-1990s, Joshua Angrist and Guido Imbens demonstrated how precise conclusions about cause and effect can be drawn from natural experiments.
    • The researchers were honoured for providing us "with new insights about the labour market" and showing "what conclusions about cause and effect can be drawn from natural experiments".

Additional Information

  • Nobel prizes for excellence in various arts of humanity were awarded since 1901.
  • The prizes, for achievements in science, literature and peace, were created through a bequest in the will of Swedish dynamite inventor and wealthy businessman Alfred Nobel.

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