Last remaining seats to the Jpost 2017 Annual Conference! Get your special offer now

Match-making science wins economy Nobel for 2 Americans

ByREUTERS
October 15, 2012 19:38

STOCKHOLM - US economists Alvin Roth and Lloyd Shapley won the 2012 Nobel prize for economics on Monday for research on how to match different economic agents such as students for schools or even organ donors with patients.

The Royal Swedish Academy of Sciences, which made the award, said the 8 million crown ($1.2 million) prize recognized "the theory of stable allocations and the practice of market design."



The award citation said Shapley had used game theory to study and compare various matching methods and how to make sure the matches were acceptable to all counterparts, including the creation of a special algorithm.

Roth followed up on Shapley's results in a series of empirical studies and helped redesign existing institutions so that new doctors could be matched with hospitals, students with schools or patients with organ donors.

"This year's prize is awarded for an outstanding example of economic engineering," the committee added.

Share this article via
from around the web
Related Content
Breaking news
May 1, 2017
Mexican soldiers kill 7 gang suspects

By REUTERS

Top Stories
Israel Weather
  • 15 - 34
    Beer Sheva
    17 - 28
    Tel Aviv - Yafo
  • 15 - 28
    Jerusalem
    15 - 27
    Haifa
  • 22 - 34
    Elat
    19 - 33
    Tiberias