What You Should Know About Nobel Prizes 1:04
London (CNN Business) -
David Card, Joshua Angrist and Guido Imbens have been awarded the 2021 Nobel Prize in economics for their contributions to labor economics and the analysis of causal relationships, the Royal Swedish Academy of Sciences announced on Monday. .
American economists Paul Milgrom and Robert Wilson received last year's economics award for their work on auction theory.
Professors at Stanford University were recognized for their theoretical discoveries that improved the operation of auctions and facilitated the allocation of scarce resources.
Nobel Prize in Economics
