Nobel in Economics goes to trio studying poverty, including the second woman to receive the award

Their contributions are in the experimental modeling of poverty in areas including micro-finance, agriculture, and education. Duflo received a MacArthur grant in 2009.

Banerjee, Duflo and Kremer have won the Nobel Prize in economics for their experiment-based approach to tackling poverty — in the fast-growing area of development economics.

The key to their research is to take the daunting issue of global poverty, and break it down into smaller questions — which can be more credibly answered.

For example, to find ways to improve children health you would examine various experimental approaches, such as education methods, health systems, agricultural approaches, and access to credit.

Esther Duflo TED Talk

Esther Duflo, FBA (French: [dyflo]; born 25 October 1972) is a French American economist, Co-Founder and Director of the Abdul Latif Jameel Poverty Action Lab (J-PAL), and Professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology. Duflo is an NBER Research Associate,[5] serves on the board of the Bureau for Research and Economic Analysis of Development (BREAD),[6] and is Director of the Center for Economic and Policy Research‘s development economics program.[7]

Her research focuses on microeconomic issues in developing countries, including household behavior, education, access to finance, health, and policy evaluation. Together with Abhijit Banerjee, Dean Karlan, Michael Kremer, John A. List, and Sendhil Mullainathan, she has been a driving force in advancing field experiments as an important methodology to discover causal relationships in economics.…