According to Euronews, University of California professor David Card was one of the winners of the 2021 Nobel Prize in Economics for his experimental contribution to the labor economy from the University of California, Berkeley.
Joshua Angrist of Stanford University and Guido Imbens, a professor at the University of Cambridge and the Massachusetts Institute of Technology, also won the 2021 Nobel Prize in Economics for their methodological contributions to causal analysis.
The prize is 10 million Swedish Krona, equivalent to 988 thousand Euros.
The academy says the three scientists have revolutionized the way research is done in economics.
"He was really surprised that the academy contacted him, and he was delighted to share the award with his coworkers Card and Angrist," Imbens told a news conference.
Last year's Nobel Prize in Economics was awarded to two Stanford University American economists, Paul Milgram and Robert Wilson, who discovered making the bidding process more efficient.
The Nobel Prize in Economics is the last of six Nobel Prizes awarded annually by the Central Bank of Sweden (Riksbank) in memory of its founder, Alfred Nobel.
The award was given amid speculation that a woman would be awarded the Nobel Prize in Economics this year. Of the 89 economists who have ever received the Nobel Prize in Economics, only two were women, and of the six Nobel Prizes awarded this year, only one woman was among the winners.