Opinion
Nobel Prize for economics goes for understanding when correlation is causation
David Card, Joshua Angrist, and Guido Imbens made pioneering contributions to what is now a core part of modern social sciences, not just economics.
Richard HoldenEconomics professorHow much does raising the minimum wage affect unemployment? How important is the rule of law in economic development? What is the effect of longer prison sentences on crime? Does media bias affect voting behaviour?
These are all fundamental questions in the social sciences, and answering them involves trying to understand not just whether two phenomena are correlated, but whether one causes the other.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Economy
Fetching latest articles