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Americans Alvin Roth, Lloyd Shapley Share Nobel For Economics

PUBLISHED BY: SURENDER KUMAR
OCTOBER 25, 2012

   
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American economists Alvin E Roth and Lloyd S Shapley, of Harvard University and California University respectively, have won the Sveriges Riksbank Prize in Economic Sciences for 2012. The Royal Swedish Academy of Sciences says that the 8 million kroner ($1.2 million) prize recognized the theory of stable allocations and the practice of market design. In simple terms, their research was on matching different economic agents such as students with schools or even organ donors with patients.

 

 


The Nobel Economics Prize was established in 1968 as it was not among the awards mentioned in Nobel's 1895 will.

 




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