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Nobel Prize for Economics awarded for revolutionising natural experiments

Published

3 years ago

October 12, 2021

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Natural Experiment pioneers research causal effects of economic policy and other events

The Nobel Prize in economics has been awarded to three U.S. based academics for their natural experiments on how economic theory is supported by real-life situations.

Chair of the Economic Sciences Prize Committee says “their research has substantially improved our ability to answer key causal questions, which has been of great benefit to society”.

The previous research of one of the winners, David Card, contributed to the introduction of the UK’s minimum wage, finding that it increased employment in New Jersey restaurants.

The two other winners, Joshua Angrist and Guido Imbens, won based on their work on the relationship between education and income and how an extra year in school impacts earnings.

The three have been said to have revolutionised empirical research.

Related Topics:economics nobel prize world

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How Google’s Gemini AI will stand against cyber threats

Published

17 hours ago

May 8, 2024

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AI takes centre stage at the RSA 2024 conference with Google unveiling advanced cybersecurity integration.

Among the myriad of announcements at this years RSA Conference, Google showcased the integration of an advanced Threat Intelligence Platform into its Gemini AI framework.

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Will Australia’s foreign investment rule create an economic boost?

Published

18 hours ago

May 8, 2024

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Australian Treasurer Dr. Jim Chalmers announced an overall of foreign investment rules ahead of the budget.

Australia is set to announce a significant decline in its projected gross debt, signalling a more optimistic outlook for the country’s fiscal health.

The Airport Economist, Professor Tim Harcourt at UTS joins to discuss.

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Can AI revolutionise the fashion industry?

Published

18 hours ago

May 8, 2024

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OpenAI took centre stage at this year’s Met Gala exhibition, offering a glimpse into the future of fashion and innovation.

This years exhibition theme “Sleeping Beauties: Reawakening Fashion,” will include a chatbot linked to a 1930s wedding gown worn by New York socialite Natalie Potter.

Karen Sutherland from the the University of the Sunshine Coast joins to discuss. #featured #trending