The Impact of the Natural Experiments of the Nobel Winners
The Nobel prize in economics to David Card, Joshua Angrist and Guido Imbens is an acknowledgement of their contribution in the development of methods to establish economic relationships, comments Jerome Adda, Dean for Research at Bocconi. In particular, he explains, for their “development of natural experiments. That is, the study of instances such as natural disasters or changes in government that induce individuals or firms to do things they would not have done otherwise. And then comparing the outcomes with those not affected by such changes.” And, he underlines, “these techniques they pioneered are incorporated in much research here at Bocconi.”