Nobel Economics Prize Awarded for 'Labor Market Insights' to US Scholars Card, Angrist, and Imbens (Update)

David Card, Joshua D. Angrist, Guido W. Imbens
Three American Economists Jointly Awarded

[Sejong=Asia Economy Reporter Moon Chaeseok] This year’s Nobel Prize in Economics was jointly awarded to three American economists: David Card, Joshua D. Angrist, and Guido W. Imbens.

The Royal Swedish Academy of Sciences announced on the 11th (local time) that the laureates were selected for providing new insights into the labor market and demonstrating that causal conclusions can be drawn from natural experiments. Card is affiliated with the University of California, Berkeley; Angrist with the Massachusetts Institute of Technology (MIT); and Imbens with Stanford University.

The Nobel Committee highly praised Card’s empirical contributions to labor economics. Angrist and Imbens were selected as this year’s economics laureates for their methodological contributions to causal relationship analysis.

Following the wishes of Swedish inventor Alfred Nobel, the Nobel Prize is awarded to individuals who have made significant contributions to the advancement of humanity. The announcement of this year’s laureates concluded with the Economics Prize on this day, starting with the Physiology or Medicine Prize announced on the 4th.

The Nobel Prize laureates receive a prize money of 10 million kronor (approximately 1.35 billion KRW).

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