Goran K. Hansson (C), Permanent Secretary of the Royal Swedish Academy of Sciences, and Nobel Economics Prize committee members Peter Fredriksson (L) and Eva Mork (R) give a press conference to announce the winners of the 2021 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

CLAUDIO BRESCIANI | AFP | Getty Images

Economists David Card, Joshua D. Angrist and Guido W. Imbens have been awarded the Nobel prize in economics.

Card was recognized for his contributions to labor economics, while Angrist and Imbens won the award for their contributions to the analysis of causal relationships.

The award — the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel — comes with a 10 million Swedish krona ($1.1 million) cash prize and a gold medal.

Card, 65, is a professor of economics at the University of Berkeley, California. Angrist, 61, is Ford professor of economics at the Massachusetts Institute of…

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