U.S. trio win Nobel economics prize for work on natural experiments

Three U.S.-based economists won this year's Nobel Prize in economics on Monday for revolutionizing empirical research by drawing conclusions from natural experiments, the Royal Swedish Academy of Sciences said.David Card at the University of California, Berkeley, will receive one half of the 10 million Swedish kronor ($1.1 million) prize for his contributions to labor research by using natural experiments to analyze "the labour market effects of minimum wages, immigration and education."The other half of the prize will be shared equally by Joshua Angrist at the Massachusetts Institute of Te…READ FULL ARTICLE