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NBER researcher wins Nobel Prize in economics.

NBER Research Associate Alvin Roth shared the 2012 Nobel Prize in Economics with Lloyd Shapley. Roth is currently the George Gund Professor of Economics and Business Administration at Harvard University. At the end of this year, he will move to emeritus rank at Harvard, and join the Stanford Economics Department. He has been a Research Associate in the NBER's Labor Studies Program since 1999, and he is an active participant in the NBER's Market Design Working Group.

The award citation prepared by the Prize Committee of the Royal Swedish Academy of Sciences highlighted the researchers' work on "the theory of stable allocations and the practice of market design." The prize citation explains that this year's award is for work on "a central economic problem: how to match different agents as well as possible. For example, students have to be matched with schools and donors of human organs with patients in need of a transplant. How can such matching be accomplished as efficiently as possible? What methods are beneficial to what groups?" This year's award recognizes both a conceptual advance in cooperative game theory and a rich set of applications of that theory to solve important problems of market design.

Roth joins a long list of current and past NBER affiliates who have received the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, which is better known as the Nobel Prize in Economics. Past NBER-affiliated winners include: Thomas Sargent and Christopher Sims, 2011;Peter Diamond and Dale Mortensen, 2010; Paul R. Krugman, 2008; Edward C. Prescott and Finn Kydland, 2004; Robert F. Engle, 2003; George Akerlof and Joseph E. Stiglitz (shared with Michael Spence), 2001; James J. Heckman and Daniel L. McFadden, 2000; Robert C. Merton and Myron S. Scholes, 1997; Robert E. Lucas, Jr., 1995; Robert W. Fogel, 1993; Gary S. Becker, 1992; and the late George J. Stigler, 1982, Theodore W. Schultz, 1979, Milton Friedman, 1976, and Simon Kuznets, 1971.
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Title Annotation:NBER News
Publication:NBER Reporter
Date:Dec 22, 2012
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