Abhijit Banerjee, Esther Duflo and Michael Kremer were awarded the Nobel Prize in economics on Monday for research on alleviating global poverty.
The trio pioneered an approach to poverty reduction that was based on carefully designed experiments that sought answers to specific policy questions, CNN reported.
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.
Indian-American Abhijit Banerjee was born in 1961 in Mumbai, India. He completed his Ph.D. in 1988 from Harvard University, Cambridge, USA, NDTV reproted.
Ms Duflo is the second woman and the youngest person to be awarded the prize in Economics. Mr Banerjee and Ms Duflo are married.
Michael Kremer is from the US.
