2012 Nobel Laureates in economics

Alvin Roth and Lloyd Shapley!

Great picks.  Both have done work on matching theory, bargaining theory, allocation theory, and market design. Here is Roth’s blog, he often reads MR by the way and sometimes sends us links.  I now need to repack and travel, my apologies, but Alex is likely to have more to say.  Alex in particular has many excellent past posts on Roth.  Here is an excellent overview of the contributions of Shapley.  Here is Wikipedia on Shapley.  Here is a Forbes profile of Roth.  Here is the Swedish information.

I think of this as a prize about how theory can be turned into usable results, how trade and matching can be made more efficient in concrete ways, how trade is a coordination game, and the intimate connection between issues of trade and issues of distribution.

Richly deserved by both men.


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