Oct 15 - American economists Alvin Roth and Lloyd Shapley share their joy after learning they split the 2012 Nobel prize for economics for separate work on playing economic match-makers. Conway Gittens reports.
Today our power players are the winners of the 2012 Nobel prize in economics. American economists Alvin Roth and Lloyd Shapley are recognized for their pioneering work that, among other things, helped develop life-saving kidney exchange programs and ways for schools to select students. It all started when Lloyd Shapley, now professor emeritus at the University of California Los Angeles, used game theory to study and compare various matching methods to make sure the matches were acceptable to all counterparts. Alvin Roth, a professor at Harvard and Stanford Universities, followed up Shapley's so-called market-matching research, helping new doctors match with hospitals, students with schools, or patients with organ donors. (SOUNDBITE) (English) ALVIN ROTH, SAYING: "We've helped design school choice systems in place now in New York City and Boston and more recently in Denver and New Orleans and Washington. And we've helped out surgical colleagues design kidney exchange mechanisms that help people get transplants when they're ... when people who'd like to donate kidneys to them are incompatible with them, we help arrange kidney exchanges." The Royal Swedish Academy of Sciences, which awards the $1.2 million prize, called their work an outstanding example of economic engineering. Conway Gittens, Reuters