Three U.S. Economists Win 2021 Nobel Prize

The Nobel Prize in economics for 2021 has been awarded to David Card, Joshua D. Angrist, and Guido W. Imbens, who all made a career of studying unintended experiments - with one half to David Card in labor economics and Angrist and Imbens in analyzing relationships, Jeanna Smialek reported for the New York Times.

Photo Insert: David Card, Joshua D. Angrist, and Guido W. Imbens, 2021 Nobel Prize in Economic Sciences winners

Unlike the other Nobel prizes, the economics award wasn’t established in the will of Alfred Nobel but by the Swedish central bank in his memory in 1968, with the first winner selected a year later. It is the last prize announced each year, the Associated Press (AP) also reported.

Last year’s prize went to two Stanford University economists--- Paul R. Milgrom and Robert B. Wilson-- who tackled the tricky problem of making auctions run more efficiently.

It also created an endearing moment when one had to knock on the other’s door in the middle of the night to wake him up and tell him they had won.

Abhijit Banerjee and Esther Duflo of the Massachusetts Institute of Technology (MIT) and Michael Kremer of Harvard won in 2019 for their experiment-based research in development economics.

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