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//MIT economists Esther Duflo and Abhijit Banerjee win Nobel Prize

MIT economists Esther Duflo and Abhijit Banerjee win Nobel Prize

By | 2019-10-22T14:28:52+00:00 October 22nd, 2019|News|

MIT News –

Esther Duflo and Abhijit Banerjee, MIT economists whose work has helped transform antipoverty research and relief efforts, have been named co-winners of the 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, along with another co-winner, Harvard University economist Michael Kremer.

“We are incredibly happy and humbled,” Duflo told MIT News after learning of the award. “We feel very fortunate to see this kind of work being recognized.”

Banerjee told MIT News it was “wonderful” to receive the award, adding “you don’t get this lucky many times in your life.”

The work of Duflo and Banerjee, which has long been intertwined with Kremer’s, has been highly innovative in the area of development economics, emphasizing the use of field experiments in research in order to realize the benefits of laboratory-style randomized, controlled trials. Duflo and Banerjee have applied this new precision while studying a wide range of topics implicated in global poverty, including health care, education, agriculture, and gender issues, while developing new antipoverty programs based on their research.

Duflo and Banerjee also co-founded MIT’s Abdul Latif Jameel Poverty Action Lab (J-PAL)  in 2003, along with a third co-founder, Sendhil Mullainathan, now of the University of Chicago. J-PAL, a global network of antipoverty researchers that conducts field experiments, has now become a major center of research, facilitating work across the world.

J-PAL also examines which kinds of local interventions have the greatest impact on social problems, and works to implement those programs more broadly, in cooperation with governments and NGOs. Among J-PAL’s notable interventions are deworming programs that have been adopted widely.

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