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Nobel - Economics

NPR's John Ydstie reports that two Americans will share the Nobel Prize for Economics. James Heckman of the University of Chicago and Daniel McFadden of the University of California at Berkeley were cited for their work in microeconometrics, which combines economics and statistics. Heckman designed new methods for evaluating the effectiveness of various social programs from affirmative action to job training. McFadden was credited with developing statistical methods that transformed empirical research.

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