Three U.S-based economists won the Nobel Prize in economics Monday for pioneering research on the labor market impacts of minimum wage, immigration and education.
At least 27 scientists with San Diego ties have won Nobel Prizes. Is there something in the water?
Card’s work on the minimum wage was an example of a “natural experiment.” The problem with such experiments is that it can sometimes be difficult to isolate cause and effect. For example, if you want to figure out whether an extra year of education will increase a person’s income, one seemingly simple method might be to compare the incomes of adults with one more year of schooling to the incomes of those without.
Speaking by phone from his home, Imbens told reporters gathered in Stockholm for the Nobel announcement that he had been asleep after “a busy weekend” when the call came in the wee hours in the U.S.
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