Roth, Shapley win Nobel economics prize

Alvin Roth and Lloyd Shapley shared the 2012 Nobel Prize in Economic Sciences for their exploration of how to make markets work more efficiently by better matching supply with demand.

15th October, 2012

Alvin Roth and Lloyd Shapley shared the 2012 Nobel Prize in Economic Sciences for their exploration of how to make markets work more efficiently by better matching supply with demand.

“The combination of Shapley’s basic theory and Roth’s empirical investigations, experiments and practical design has generated a flourishing field of research and improved the performance of many markets,” the Royal Swedish Academy of Sciences, which selects the winner, said in a statement in Stockholm today. “This...

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