A trio of economists were awarded the Nobel Prize on Monday for showing that pre


A trio of economists were awarded the Nobel Prize on Monday for showing that pre


A trio of economists were awarded the Nobel Prize on Monday for showing that precise — and surprising — answers to some of society’s most pressing questions can be gleaned from experiments rooted in real life.

David Card was recognized for groundbreaking work on minimum wages, immigration and education. He showed, using a natural experiment, that increasing the minimum wage does not necessarily lead to fewer jobs.

The other half of the prize was awarded to Joshua Angrist and Guido Imbens for demonstrating how precise conclusions about cause and effect can be drawn from natural experiments. Tap the link in our bio for more details.

(📸: CLAUDIO BRESCIANI/TT NEWS AGENCY/AFP via Getty Images)



Source


Like it? Share with your friends!

0