Three RWD Economists Granted Nobel Prize

Economists David Card, Joshua Angrist, and Guido Imbens were granted the Nobel Prize in Economic Sciences by the Royal Swedish Academy of Sciences earlier this week. Card used real world data (RWD) to understand how increasing the minimum wage affected employment practices while Angrist and Imbens developed modeling tools.

Chair of the Economic Sciences Prize Committee Peter Fredriksson remarks, “Card’s studies of core questions for society and Angrist and Imbens’ methodological contributions have shown that natural experiments are a rich source of knowledge. Their research has substantially improved our ability to answer key causal questions, which has been of great benefit to society.” Read more here.

(Source: Charles Riley, CNN, 10/11/21)