Nobel Prize in economics awarded to trio for work on poverty

Abhijit Banerjee, Esther Duflo and Michael Kremer were awarded the Nobel Prize in economics on Monday for research on alleviating global poverty.

(Photo by Jonathan NACKSTRAND / AFP) (Photo by JONATHAN NACKSTRAND/AFP via Getty Images)

The trio pioneered an approach to poverty reduction that was based on carefully designed experiments that sought answers to specific policy questions.

Duflo, a professor at the Massachusetts Institute of Technology, is the youngest person and second woman to be awarded the prize. Banerjee is also a professor at MIT.

Kremer, a professor at Harvard, used field work to test how school results could be improved in western Kenya during the mid-1990s.

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

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.