2012 Economics Nobel for Americans Alvin E. Roth and Lloyd Shapley

October 15, 2012  |   Filed under: Billboard  |   Posted by:

Buenos Aires, October 15, 2012

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The Nobel Prize in Economics 2012, officially known as Prize in Economic Sciences of the Bank of Sweden in memory of Alfred Nobel, was awarded to Americans Alvin E. Roth and Lloyd Shapley for their theory of market designs.

The permanent secretary of the Swedish Royal Academy of Sciences Staffan Normark said, “The Swedish Academy bet, once again, by the game theory and mathematical work, highlighting the work of the winners’ in the theory of stable allocations market design ‘.

However, the award recognizes the work of both, independently rather than jointly. And it was stressing that ‘the combination of Shapley basic theory and Roth’empirical research, experiments and practical design, created a burgeoning field of research and improved the performance of many markets.

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