Roth and Shapley win economics Nobel for matching theory

Oct 15, 2012, 12:07 PM EDT
A screen displays photos of the winners of the Nobel prize in Economic Sciences US Alvin Roth (L) and Lloyd Shapley on October 15, 2012 in Stockholm during the press conference of the Royal Swedish Academy of Sciences. US duo Alvin Roth and Lloyd Shapley won the Nobel Economics Prize on Monday for their research on how to match different agents as well as possible, the Nobel jury said.

Alvin Roth and Lloyd Shapley win the Nobel prize for economics for their work on how markets without a price mechanism, such as the matching of students to schools and organ donors to recipients, can be made to work more effectively. Roth's empirical studies and applications built on Shapley's theoretical game-theory work on cooperative games a generation earlier. Roth has also worked on matching in repugnant markets, those in activities regarded by a society as taboo.