Monday, October 29, 2012

Nobel Prize in Economics 2012

Game theory was always my favourites. "Formulating Rules" Prof. John Nash's equilibrium.

Well anyways Economics is not always about money.

This year's Prize concerns a central economic problem: how to match different agents as well as possible. For example, students have to be matched with schools, and donors of human organs with patients in need of a transplant. How can such matching be accomplished as efficiently as possible? What methods are beneficial to what groups? The prize rewards two scholars who have answered these questions on a journey from abstract theory on stable allocations to practical design of market institutions.
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