Best of #econtwitter - Nobel 2021 special edition
Throwback Thursday: 2020 Nobel special edition
The prize
The Nobel Prize@NobelPrize
BREAKING NEWS:
The 2021 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded with one half to David Card and the other half jointly to Joshua D. Angrist and Guido W. Imbens.
#NobelPrize
9:59 AM · Oct 11, 2021
5.99K Reposts · 12.9K Likes
Sarah Rosenberg@sarahmrose
@JustinWolfers I wonder if the inability to let Krueger share in this prize posthumously might not be why they assigned shares...if it had been all 4, it would have been equally shared. 50/50 could be a nod to his absence, since we all know it's really "Card & Krueger" + "Angrist & Imbens"
11:32 AM · Oct 11, 2021
1 Repost · 38 Likes
(^though)
Threads
Justin Wolfers@JustinWolfers
Short version of the prize: We used to dig into the data, say "correlation ain't causation," quickly forget we said that, and make a bunch of causal-ish statements based on data that really couldn't support such claims.
10:02 AM · Oct 11, 2021
39 Reposts · 273 Likes
Arthur Netto@arthurbnetto
It’s been some time since my last tweet, but a timely Nobel Prize came as a call for a thread! I’ve just defended my PhD thesis "Experiments in the Armchair: A History of Microeconometrics and Program Evaluation at Princeton". I follow Ashenfelter and his mentees up close in it!
1:43 AM · Oct 12, 2021
169 Reposts · 636 Likes
^recommended, related paper
Kevin Bryan@Afinetheorem
Afraid I am working on a new project in Dakar on sabbatical and am under the weather, so no full AFT post this year about the Nobel. But, a few bagatelles about an obvious prize, and also one that is widely misunderstood (but not by the winners, that's for sure!)
7:50 PM · Oct 12, 2021
26 Reposts · 79 Likes
Ahmed Mushfiq Mobarak@mushfiq_econ
On the occasion of today's #Economics @NobelPrize awarded for methodologies to uncover causality in non-experimental situations, I want to share a thought with other adjacent fields of academia that rely on empirical evidence: public health, medicine, other social sciences.
1:01 PM · Oct 11, 2021
91 Reposts · 493 Likes
Scott Stern@sstern_mit
LATE is an advance that, even when stated clearly, is not "obvious" even after you see it. It makes you think carefully about exactly what a regression identifies (a weighted average of heterogeneous effects) and the implicit assumptions pervading empirical analysis (10/n)
4:14 PM · Oct 11, 2021
4 Reposts · 33 Likes
Erik Öberg@ek_oberg
The “credibility revolution”, started in labor and education. Today, the methods and practice of causal analysis that Card, Angrist and Imbens pioneered have penetrated all fields of economics.
Some beautiful examples of exploiting natural experiments from my home turf, macro:
1:56 PM · Oct 11, 2021
94 Reposts · 368 Likes
Salvatore Lattanzio@salva_lat
David Card's contribution to the minimum wage literature is big, but it's not his only contribution to economics. One of his more recent contribution is on wage inequality and the role played by firms.
A thread [1/12] 👇
#NobelPrizeEconomics #EconTwitter
3:56 PM · Oct 11, 2021
65 Reposts · 205 Likes
MR
Alex Tabarrok@ATabarrok
A Nobel Prize for the Credibility Revolution--David Card, Joshua Angrist and Guido Imbens. My writeup at Marginal Revolution
marginalrevolution.com
A Nobel Prize for the Credibility Revolution - Marginal REVOLUTION
10:47 AM · Oct 11, 2021
130 Reposts · 352 Likes
Nobel Prize meta
Ben Golub@ben_golub
Imagine you give a prize for achievement, and you also have some values you care about promoting.
It seems like it wouldn't be optimal for you to give the prize based exclusively on achievement all the time. The prize earns reputation with the strongest winners,
1/
4:56 PM · Oct 5, 2021
6 Reposts · 46 Likes
Mohammad Akbarpour@akbarpour_
I think they should stop giving Nobel prizes to people and instead give them to papers. I don’t want to celebrate someone’s career, I want celebrate the event of discovering an unknown that was waiting to be known.
6:40 PM · Oct 8, 2021
18 Reposts · 164 Likes
Justin Wolfers@JustinWolfers
This year's prize reaffirms a trend we've seen for years: If you want to win the Prize, you've got to win the next generation of graduate students. Teach them tools that they can use to push back the frontier. Each of these guys has trained a veritable army of graduate students.
10:36 AM · Oct 11, 2021
13 Reposts · 191 Likes
Fluff
Peter Hull@instrumenthull
Nobody:
Nobel laureate:
4:06 AM · Oct 12, 2021
694 Reposts · 4.75K Likes
Austan Goolsbee@Austan_Goolsbee
@NobelPrize Remembering when Josh Angrist moonlighted as an Uber driver to get info for a paper (he got low ratings b/c passengers said he asked them too many questions).
Rando drunk Boston ppl driven around by a Nobel laureate studying incentives and human behavior is <kiss-fingers>
2:25 PM · Oct 11, 2021
148 Reposts · 887 Likes
Sydnee Caldwell@SydneeCaldwell
@Austan_Goolsbee @NobelPrize He was also objectively bad. Look at Figure 5A of our paper. The random detour on the waterfront was, I am told, not part of the route. Unclear Josh knows that's the trip receipt I chose to put in....
3:04 PM · Oct 11, 2021
10 Reposts · 129 Likes
Emily Nix@EmilyNix100
Good thing Josh Angrist won that Nobel Prize today and won't have to rely on his backup career of Uber driver, since apparently, it was not his comparative (or absolute tbh looking at this map😂) advantage.
Sydnee Caldwell @SydneeCaldwell
@Austan_Goolsbee @NobelPrize He was also objectively bad. Look at Figure 5A of our paper. The random detour on the waterfront was, I am told, not part of the route. Unclear Josh knows that's the trip receipt I chose to put in....
4:24 PM · Oct 11, 2021
4 Reposts · 39 Likes
Jesse Rothstein@rothstein_jesse
Shachar Kariv, the Berkeley economics department chair, just reminded me that David is no longer allowed to win the department’s best advisor award, to give others a chance.
2:11 PM · Oct 11, 2021
2 Reposts · 64 Likes
Simon Bowmaker@SimonBowmaker
David Card on becoming an economist...
Full interview: simonbowmaker.com/s/Card.pdf
5:36 PM · Oct 11, 2021
24 Reposts · 156 Likes
Owen Ozier@OwenOzier
To celebrate the #NobelPrize awarded in part for 'methodological contributions to the analysis of causal relationships', please enjoy econometrics and causal inference memes and poems created by the @WilliamsEcon undergraduates! #EconTwitter
owenozier.github.io/teaching/2020-…
11:27 AM · Oct 11, 2021
79 Reposts · 463 Likes
Andrew Charles Baker@Andrew___Baker
The only thing I’ll say about the Nobel is that Guido Imbens taught me the most important lesson in grad school. Namely that you can actually be extremely smart and successful while also being an absurdly nice person.
10:15 AM · Oct 11, 2021
119 Reposts · 2.03K Likes