The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2019
Born: 12 November 1964, New York, NY, USA
Affiliation at the time of the award: Harvard University, Cambridge, MA, USA
Prize motivation: "for their experimental approach to alleviating global poverty."
Prize share: 1/3
Michael Kremer, a descendant of Jewish immigrants from Poland and Austria, was born in New York in the United States. His mother was a professor of literature. Kremer studied at Harvard University, receiving a doctorate in economics there in 1992. He then worked at the Massachusetts Institute of Technology and became a professor at Harvard University in 1999, where he works.
One of humanity’s most urgent issues is the reduction of global poverty, in all its forms. Abhijit Banerjee, Esther Duflo, and Michael Kremer have introduced a new approach to obtaining reliable answers about the best ways to fight global poverty. It involves dividing this issue into smaller, more manageable, questions. Since the mid-1990s, they have been able to test a range of interventions in different areas using field experiments, for example for improving educational outcomes or child health.
Their work and discoveries range from the formation of black holes and genetic scissors to efforts to combat hunger and develop new auction formats.
See them all presented here.