Nobel Prize in Economics Awarded jointly to Alvin E Roth and Lloyd Shapley

Nobel Prize Committee: The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2012 was awarded jointly to Alvin E. Roth and Lloyd S. Shapley “for the theory of stable allocations and the practice of market design.

Mr Roth is a professor of economics at Harvard and Mr Shapley is a professor emeritus at University of California in Los Angeles.

It comes after the 2012 Nobel Peace Prize last week was awarded to the European Union.

Roth was Born: 1951. His affiliation at the time of the award: Harvard University, Cambridge, MA, USA, Harvard Business School, Boston, MA, USA
Prize motivation: “for the theory of stable allocations and the practice of market design”

Roth wrote this fun paper on repugnant markets and helped design systems for matching kidney donors with those in need of transplants and matching New York City students to public schools.

Shapley was Born: 1923, Cambridge, MA, USA. His affiliation at the time of the award: University of California, Los Angeles, CA, USA
Prize motivation: “for the theory of stable allocations and the practice of market design”

Contributor D. Chandler