Daron Acemoglu and Simon Johnson work at the Massachusetts Institute of Technology, while James A. Robinson conducts his research at the University of Chicago.

Three U.S.-based academics won the 2024 Nobel economics prize on Monday for research that explored the aftermath of colonisation to understand why global inequality persists today, especially in countries dogged by corruption and dictatorship.

A trio of economists was awarded the Nobel Prize Monday for their “studies of how institutions are formed and affect prosperity.”