2 From US Win Nobel in Economics - New York Times [ournewsa.blogspot.com]
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Two Americans, Alvin E. Roth and Lloyd Shapley, were awarded the Nobel Memorial Prize in Economic Science on Monday for their work on market design and matching theory, which relate to how people and companies find and select one another in everything from marriage to school choice to jobs.
Mr. Roth, 60, is known for putting these theories to practical use, in his work on on a program that matches new doctors to hospitals and more recently for a project matching up kidney donors. A professor at Harvard, he recently accepted a new position at Stanford.
Mr. Shapley, 89, a mathematician and economist long associated with game theory, is a professor emeritus at the University of California, Los Angeles. He made some of the earlier theoretical contributions to research on market design and matching, in the 1950s and 1960s. He looked at why, in a free market, it was sometimes difficult for individuals to come to an agreement about proper matches.
In a paper with David Gale in 1962, Mr. Shapley explained how individuals can be paired up together in a stable match even when they disagree about what qualities make the right match. Marriage was one of the main targets of this analysis.
Related 2 From US Win Nobel in Economics - New York Times Issues Question by sanjay_makhijani1976_29: What do you know about "life insurance policy"? Best answer for What do you know about "life insurance policy"?:
Answer by HAYDEN
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