Bhadrak, Oct. 14 -- The 2019 Nobel Prize in Economics was awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer today. The trio was awarded 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel "for their experimental approach to alleviating global poverty".

In a press release, the committee said the research conducted by the three laureates "considerably improved our ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research."

The committee also said in a tweet, "This year's laureates have introduced a new approach to obtaining reliable answers about the best ways to fight global poverty. It di...