2012 Nobel Prize in Economics
Lloyd Shapley
Alvin Roth
Lloyd Shapley
- Born in 1923 in Cambridge, Massachusetts
- Earned Ph.D. in 1953 from Princeton University
- Professor at University of California, Los Angeles
- Used cooperative game theory to study and compare different matching methods
Alvin Roth
- Born in 1951 in the United States
- Earned Ph.D. in 1974 from Stanford University
- Professor of Economics and Business Administration at Harvard
- Demonstrated that stability is the key to understanding the success of particular market institutions