Guido Imbens wins Nobel in economic sciences | Stanford News

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Stanford economist Guido W. Imbens was awarded the Nobel Sveriges Riksbank Prize in Economic Sciences today for his work in econometrics and statistics.
This story was updated on Monday, Oct. 11, at 5:11 p.m. PST.

During his first year teaching and living at Harvard University, Guido Imbens spent his Saturday mornings with his colleague Joshua Angrist at the university housing laundromat, and during the spin cycle, the pair would discuss work and ponder questions about the world. Memories of those leisurely weekend conversations, nearly three decades ago now, flooded back to Imbens today upon learning that both he and Angrist have been awarded the 2021 Nobel Prize in Economic Sciences for work they conducted together.

"We were talking about ideas and thinking about open questions and it's just kind of amazing to think that that work just very directly … it's essentially where we figured out the main ideas that are the basis for this prize," said Imbens.

Imbens is the applied econometrics professor and professor of economics at the Stanford Graduate School of Business. He is also a professor of economics in the School of Humanities and Sciences and a senior fellow at the Stanford Institute for Economic Policy Research (SIEPR).

The Royal Swedish Academy of Sciences, which grants the Nobel prizes, jointly awarded one half of the $10 million Swedish kronor (about $1 million USD) prize, officially known as the "Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel," to Imbens and Angrist for "their methodological contributions to the analysis of causal relationships." The other half of the prize was awarded to David Card at the University of California, Berkeley, for "his empirical contributions to labour economics."

"On behalf of the Stanford community, I would like to offer my warm congratulations to Guido Imbens on this remarkable achievement," said Stanford President Marc Tessier-Lavigne. "Professor Imbens has played a central role in shaping how researchers understand and analyze causal relationships. His insights and framework, developed alongside his close colleague and fellow laureate…
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