Stockholm: Three US-based economists have won the 2021 Nobel Prize for Economics for work on drawing conclusions from unexpected experiments, or so-called “natural experiments”.
The winner was David Card of the University of California at Berkeley; Joshua Angrist from the Massachusetts Institute of Technology; and Guido Imbens from Stanford University.
The Royal Swedish Academy of Sciences stated that all three “completely replaced empirical work in economic science.”
Unlike other Nobel Prizes, the Economics Prize was not established in the will of Alfred Nobel, but was instituted in his memory by the Swedish central bank in 1968, with the first winner being selected a year later. This is the last award announced each year.
Last year’s prize went to two Stanford University economists who tackled the difficult problem of running auctions more efficiently.
It also created a lovely moment when one had to knock on the door in the middle of the night to wake up the other and tell them they had won.
Last week, the 2021 Nobel Peace Prize was awarded to Philippine journalists Maria Russa and Russia’s Dmitry Muratov for their fight for freedom of expression in countries where journalists are subjected to constant attacks, harassment and even violence. have faced murder.
The Nobel Prize for Literature was awarded to Britain’s Tanzanian writer Abdulrajak Gurnah, who was recognized for his “uncompromising and compassionate admission of the effects of colonialism and the fate of the refugee”.
The Prize for Physiology or Medicine was given to Americans David Julius and Ardem Patapoutian for their discoveries of how the human body perceives temperature and touch.
Three scientists won the Physics Prize for work that helped to explain and predict the complex forces of nature, as well as expand our understanding of climate change.
Benjamin List and David WC Macmillan won the Chemistry Prize for finding an easy and environmentally clean way to manufacture molecules that can be used to make compounds, including drugs and pesticides.