Dutch American Guido Imbens has been named one of the three winners of the 2021 Nobel Prize in economic sciences. Imbens is an alumnus of Erasmus School of Economics: he studied econometrics in Rotterdam after which he continued his research career in the United States.
On Monday 11 October 2021, it was announced that Guido Imbens, Professor of Economics and Professor of Applied Econometrics at the prestigious Stanford Graduate School of Business, was awarded the Nobel Prize along with his colleague Joshua Angrist for their "methodological contribution to analysis of causal relationships". Together they share the prize money of half a million euros. The American David Card (University of California) also wins the Nobel Prize for his research and receives half a million euros.
Imbens and Angrist receive the prize for their research in the mid-1990s into the possibility of so-called natural experiments to explain causal connections. Card wins his Nobel Prize for empirical contributions to labor economics in the early 1990s. An example is given that his research showed that a higher minimum wage does not directly lead to lower employment.