ALL : The Nobel Prize for Economics 2012

The winners of this year's nobel prize for economics goes to two economist who have researched how to improve the way scarce resources are allocated more effectively.  As the Upper Sixth know and the Lower Sixth are about to discover, markets are not always the best way.....

BBC News - Nobel Prize: Alvin Roth and Lloyd Shapley win economics award: "Alvin Roth and Lloyd Shapley have won the 2012 Nobel Prize in economics.

The Royal Swedish Academy of Sciences cited the US academics for their work on the "theory of stable allocations and practice of market design".

The work is concerned with the best possible way to allocate resources, such as in school admissions or organs to patients who need transplants.

Mr Roth is a professor at Harvard and Mr Shapley teaches at the University of California in Los Angeles.

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