Indian American Abhijit Banerjee and Wife Esther Duflo along with Michael Kremer won the Nobel Prize in Economics for their experimental approach to alleviating global poverty as announced the jury of the Swedish academy.
Abhijit Banerjee (58) and Esther Duflo (46) are professors at the Massachussetts Institute of Technology (MIT) in the USA while Michael Kremer (54) is a professor at the Harvard University.
Abhijit Banerjee was born in Mumbai city and married a French-American Esther Duflo who worked as an advisor to the former US President Barack Obama, along with Michael Kremer of the United States were honored today with the prestigious Nobel Prize.
The Academy said in statement that in two decades, the experiment based approach had transformational impact on Development Economics which is now a flourishing field of research.
Esther Duflo is also the youngest member to receive the honor said the Nobel committee.
Abhijit Banerjee has also authored number of articles and many books one of which even won the Goldman Sachs Business book of the year. Abhijit became a citizen of America in 2017.
The trio will receive the prize from the king Carl XVI Gustaf at a formal ceremony in Stockholm on December 10 on the death anniversary of Alfred Nobel who initiated the legacy of awarding Nobel Prize to people for their valuable contributions in various fields.