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Congratulations to Joshua Angrist and Guido Imbens for being awarded the Nobel Prize in Economics for their work in developing methodologies in the analysis of causal relationships.
The methodologies are useful in many fields of study beyond economics and allow precise conclusions to be drawn about cause and effect from natural experiments (observation of naturally occurring conditions and events rather than planned, controlled experiments).
This is has been a huge problem in many fields -- establishing cause and effect rather than just correlation between variables. Their methods have made that easier.
