The Nobel Prize for economics has been awarded to Alvin Roth and Lloyd Shapley for their independent work into how best to bring different parties together for mutual benefit – work that formed the theoretical underpinning to speed dating evenings and allocating secondary school places.
The prize, awarded by the Swedish Riksbank in memory of Alfred Nobel, went to the American scholars for their abstract theoretical work and efforts to make the findings relevant in practice.
By awarding the prize to an area of economics far outside the macroeconomic debate over crises, austerity and fiscal policy, the Nobel committee has dodged taking sides in the debate.
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