Nobel Prize in Economics 2012

Nobel Prize  in Economics  2012

15-10-12

2012 Economics Nobel Prize winners are  Lloyd Shapley of UCLA and Alvin Roth of Stanford University .
This was announced on 15-10-12.
Life-saving kidney exchange programmes are just one of the practical applications of the market-matching theories for which American economists Roth and Shapley won the 2012 Nobel prize for economics

                                             Lloyd Shapley               Alvin Roth of Stanford

Two American scholars won the Nobel economics prize Monday for work on match-making — how to pair doctors with hospitals, students with schools, kidneys with transplant recipients and even men with women in marriage.
Lloyd Shapley of UCLA and Alvin Roth, a Harvard University professor currently visiting at Stanford University, found ways to make markets work when traditional economic tools fail.

  Lloyd Shapley 

Shapley, 89, came up with the formulas to match supply and demand in markets where prices don’t do the job; the 60-year-old Roth put Shapley’s math to work in the real world.

 Alvin Roth