Among the three winners of the award is  Joshua Angrist, who previously taught at the Hebrew University.

They have been recognized for their contribution to the study of the labor economy and the study of causal relationships as part of natural experiments.

Angrist and Imbance, close friends, share the award for "their systematic contribution to examining causal relationships," and Card won for "his empirical contribution to the labor economy.

"The committee said the three conducted natural experiments, using realistic situations to test their impact on the world. This approach spread to other areas and changed empirical research.

The Nobel Prize in Economics, unlike other Nobel Prizes, was not one of the original prizes awarded in accordance with the will of the Swedish inventor Alfred Nobel. It was added by the Central Bank of Sweden in 1969. Last year the award was given to Paul Milgram and Robert Wilson for their research in the field of auctions and auction theory.