Lloyd Shapley is famous for his matchmaking theory, first authoring a paper 50 years ago showing how to match people to potential partners, where no-one would benefit from trading partners.
Alvin Roth later took Shapley's theories and found practical applications in a variety of markets, such as schools and hospitals. He founded the New England Programme for Kidney Exchange and developed a new algorithm that matched resident doctors to the right hospital in the National Resident Matching Program in the US.
Alvin Roth's books published by Cambridge University Press include:
The Sveriges Riksbank prize in Economic Sciences in Memory of Alfred Nobel was set up in 1968. The Prize is awarded by the Royal Swedish Academy of Sciences according to the same principles as the Nobel Prizes that have been awarded since 1901.
In 2010, Cambridge authors Peter Diamond and Christopher Pissarides won the prize. Diamond published On Time with Cambridge, and Pissarides published the Labour Market Adjustment.
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