Alvin Roth and Lloyd Shapley win Nobel Prize in economics

US duo Alvin Roth and Lloyd Shapley win Nobel Prize 2012 in economics

American economists Alvin E. Roth and S. Lloyd Shapley 2012 shared the Nobel Prize in Economics, Staffan Normark announced, permanent secretary of the Royal Swedish Academy of Sciences in Stockholm on Monday.

The two researchers worked independently, but their empirical investigations, experiments and practical design have created a burgeoning field of research and improve performance in many markets, the academy said.

Roth and Shapley against central economic problem: how to combine different agents in the best way possible.

The Royal Swedish Academy of Sciences cited the two economists for “the theory of stable allocations and the practice of market design”.

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