In case you missed it yesterday, the 2012 Nobel Prize in Economics was awarded to Alvin Roth and Lloyd Shapley. Their contributions lie in the field of matching theory. You find matching in many markets and social institutions. For example, jobs are matched to workers, husbands to wives, doctors to hospitals, kidneys to patients. Here are a few links with more information:
- Here is the press release: The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2012 awarded “for the theory of stable allocations and the practice of market design”.
- Marginal Revolution has a nice post that explains the field of matching.
- If all this gets you wondering who the previous Nobel Prize winners were, have a look at the list here.
Finally, Justin Wolfers made an interesting tweet:
Justin Wolfers (@justinwolfers) October 15, 2012