2012 Nobel Prize in Economics

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