Alvin Roth (left) and Lloyd Shapley were awarded the 2012 Nobel Prize for Economics. Prices are often the easiest way to create an efficient market–the person willing to pay the most gets the thing ...

The Nobel Prize for Economics has been awarded to Americans Alvin Roth and Lloyd Shapley for work that has helped to craft more efficient and stable markets. Shapley, who was educated at Princeton and ...

“They’ve been talked about as likely winners for a long time now, so it’s not really a huge surprise they’ve been chosen,” Princeton economics professor Dilip Abreu GS ’83 said. “It was a matter of ...

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