Trio win Nobel Economics Prize for work on poverty

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A computer screen displays the co-winners of the 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (L-R) Abhijit Banerjee, Esther Duflo and Michael Kremer during a press conference at the Royal Swedish Academy of Sciences in Stockholm, Sweden, on October 14, 2019. PHOTO | JONATHAN NACKSTRAND | AFP
A computer screen displays the co-winners of the 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (L-R) Abhijit Banerjee, Esther Duflo and Michael Kremer during a press conference at the Royal Swedish Academy of Sciences in Stockholm, Sweden, on October 14, 2019. PHOTO | JONATHAN NACKSTRAND | AFP

A trio of American economists on Monday won the Nobel Economics Prize for their work in the fight against poverty, including with new approaches in education and healthcare, the Royal Swedish Academy of Sciences said.

Indian-born Abhijit Banerjee of the US, his French-American wife Esther Duflo and Michael Kremer of the US were honoured “for their experimental approach to alleviating global poverty,” the jury said.

“This year’s laureates have introduced a new approach to obtaining reliable answers about the best ways to fight global poverty,” the jury said.

The three found efficient ways of combatting poverty by breaking down difficult issues into smaller, more manageable questions, which can then be answered through field experiments, the jury said.

“They have shown that these smaller, more precise, questions are often best answered via carefully designed experiments among the people who are most affected,” it said.

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