Home Must Reads Two U.S. economists win Nobel Prize

Two U.S. economists win Nobel Prize

| Print |  Email
Must Reads
Monday, October 15, 2012

Two Americans were awarded the Nobel Memorial Prize in Economic Science.

Alvin E. Roth and Lloyd Shapley work on market design and matching theory, studying how people and companies find and select each other.

Their work primarily relates to markets that do not have prices, or at least have strict constraints on prices. In classical economics, prices are the main mechanism through which resources are allocated. The laureates’ breakthroughs involve figuring out how to properly assign people and things to stable matches when prices are not available to help buyers and sellers pair up.

The Nobel in economic science is not one of the original prizes created by Alfred Nobel. It has been awarded each year since 1969 by the Royal Swedish Academy of Sciences. In addition to a medal and a diploma, the laureates collectively win a cash prize worth about $1.2 million.

Read more at The New York Times.

{biztweet}nobel prize{/biztweet}

 

More Articles

Powerlist: Colleges and Universities

September 2014
Wednesday, August 27, 2014
BY KIM MOORE

A conversation about higher education with the presidents of the University of Oregon and Clackamas Community College, followed by September's powerlist.


Read more...

Molecular Movies

September 2014
Wednesday, August 27, 2014
BY LINDA BAKER

Dr. Chong Fang isn’t God. But the assistant professor of chemistry at Oregon State University is getting closer to figuring out how he put everything together. 


Read more...

Video: The 100 Best Survey

News
Thursday, August 28, 2014

100-best-logo-2015 500pxw-1OB Research Editor Kim Moore shares some pointers about the 100 Best Companies to Work For survey.


Read more...

Poll Wrap-Up

News
Friday, August 15, 2014

2014 NewPoll-report-newsletterthumbIn this week's poll, we asked readers: "Who should pay for the troubled Cover Oregon website?" Here are the results.


Read more...

Tight and Loose

September 2014
Wednesday, August 27, 2014
BY JENNIFER MARGULIS

As schools implement more rigorous academic standards, holistic and flexible approaches to K-12 education flourish.


Read more...

A Taste of Heaven

September 2014
Tuesday, August 26, 2014
BY VIVIAN MCINERNY

Craft beer comes to Mount Angel.


Read more...

Portland rises

News
Monday, August 18, 2014

IMG 2551Portland is in the middle of another construction boom, with residential and office projects springing up downtown, in the Pearl and Old Town. OB Web Editor Jessica Ridgway documents the new wave.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS