David Card, Joshua Angrist and Guido Imbens were honored for their work on drawing conclusions from unintended, or so-called "natural experiments."
A U.S.-based economist won the Nobel prize for economics Monday for pioneering research that showed an increase in minimum wage does not lead to less hiring and immigrants do not lower pay for native-born workers, challenging commonly held ideas. Two others shared the award for creating a way to study these types of societal issues.