Last week the Royal Swedish Academy of Sciences announced the winners of the Nobel prize in economics, known formally as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. The three winners were Abhijit Banerjee and Esther Duflo of M.I.T. and Michael Kremer of Harvard. Their distinctive contribution was to use experimental methods to learn about the effectiveness of small-scale policy interventions aimed at helping improve the lives of some of the world’s poorest citizens. The Nobel prize appropriately recognizes both the winners’ use of a powerful research technique and their application of that technique to […]
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