What is the Nobel prize in economics known as?
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
Who was awarded the prize in 2012?
Alvin E. Roth
Harvard University, Cambridge, MA, USA, and Harvard Business School, Boston, MA, USA
Harvard University, Cambridge, MA, USA, and Harvard Business School, Boston, MA, USA
and
Lloyd S. Shapley
University of California, Los Angeles, CA, USA
University of California, Los Angeles, CA, USA
For what contribution to economics was the prize awarded?
The theory of stable allocations and the practice of market design".
Stable allocations – from theory to practice
This year's Prize concerns 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? The prize rewards two scholars who have answered these questions on a journey from abstract theory on stable allocations to practical design of market institutions.
All correct answers were given by Zenaida, Alisha and Sanita from F.Y.B.Com.
All correct answers were given by Zenaida, Alisha and Sanita from F.Y.B.Com.
