The Nobel Prize in Economics is being awarded to David Card, Joshua Angrist and Guido Imbens, the Swedish Nobel Committee announced in Stockholm on Monday.
Card received the award for his empirical contributions to labor economics.
Angrist and Imbens share the award for their work on cause and effect in natural experiments.
The Nobel Prize in economics, formally called the Sveriges Riksbank or Swedish Central Bank Prize, wraps up this year's Nobel Prize season. The award was created by the Swedish central bank "in memory of Alfred Nobel."
It is named after the Swedish central bank because unlike the other Nobel Prizes, it was not among the original five endowed in Swedish inventor and philanthropist Alfred Nobel's will. It was instead created through a donation from the central bank to the Nobel Foundation in 1968 to mark the bank's 300th anniversary.
Earlier, the Nobel Prize in Peace was awarded to journalists Maria Ressa (the Philippines), Dmitry Muratov (Russia).
They were awarded "for their efforts to safeguard freedom of expression, which is a precondition for democracy and lasting peace."
Maria Ressa is the founder of the Philippine Rappler news agency. The Nobel Committee noted that she uses the freedom of speech to expose abuse of power, violence and growing authoritarianism in the Philippines. Dmitriy Muratov heads Russian opposition newspaper “Novaya Gazeta” since 1995. He got the prize for “protecting the freedom of speech in Russia in more and more difficult conditions during decades”.