A demonstration of the work of American economists Alvin Roth and Lloyd Shapley, who are winners of the 2012 Nobel Prize in Economic Sciences, are shown on a screen during a press conference held by the Royal Swedish Academy of Sciences in Stockholm, Sweden, on Oct. 15, 2012. (Xinhua/Liu Yinan)
Two Americans share Nobel Prize for Economics
STOCKHOLM, Oct. 15 (Xinhua) -- American economists Alvin E. Roth and Lloyd S. Shapley shared 2012 Nobel Prize for Economics, announced Staffan Normark, Permanent Secretary of the Royal Swedish Academy of Sciences in Stockholm on Monday.
The duo won the award "for the theory of stable allocations and the practice of market design," said Normark.
"This year's prize is awarded for an outstanding example of economic engineering," said the academy in a statement. Full story