Three US-based economists jointly won the 2021 Nobel Prize in economics for their contributions to labor economics and analysis of causal relationships, the Royal Swedish Academy of Sciences announced on Monday, according to Anadolu Agency/

The award – the Sveriges Riksbank Prize in Economic Sciences in memory of Alfred Nobel – went to American economist David Card “for his empirical contributions to labour economics,” and US economist Joshua D. Angrist and Dutch-born American economist Guido W. Imbens “for their methodological contributions to the analysis of causal relationships.”

Last year, the prize in economic sciences was jointly awarded to US economists Paul R. Milgrom and Robert B. Wilson “for improvements to auction theory and inventions of new auction formats.”