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2012 Nobel Prize in Economics

Wallstreetatheist
Posts: 7,132
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10/15/2012 6:16:57 AM
Posted: 4 years ago
Alvin E. Roth
-Born: 1951
-Affiliation at the time of the award: Harvard University, Cambridge, MA, USA, Harvard Business School, Boston, MA, USA
-Prize motivation: "for the theory of stable allocations and the practice of market design"
-Sample of work: http://kuznets.fas.harvard.edu...

Lloyd S. Shapley
-Born: 1923, Cambridge, MA, USA
-Affiliation at the time of the award: University of California, Los Angeles, CA, USA
-Sample of work: http://www.econ.ucsb.edu...

Prize motivation (both economists): "for the theory of stable allocations and the practice of market design."
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Primal Diet. Lifting. Reading. Psychedelics. Cold-Approach Pickup. Music.
Smithereens
Posts: 5,512
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10/15/2012 6:18:57 AM
Posted: 4 years ago
At 10/15/2012 6:16:57 AM, Wallstreetatheist wrote:
Alvin E. Roth
-Born: 1951
-Affiliation at the time of the award: Harvard University, Cambridge, MA, USA, Harvard Business School, Boston, MA, USA
-Prize motivation: "for the theory of stable allocations and the practice of market design"
-Sample of work: http://kuznets.fas.harvard.edu...

Lloyd S. Shapley
-Born: 1923, Cambridge, MA, USA
-Affiliation at the time of the award: University of California, Los Angeles, CA, USA
-Sample of work: http://www.econ.ucsb.edu...

Prize motivation (both economists): "for the theory of stable allocations and the practice of market design."



*claps*
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jat93
Posts: 1,440
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10/15/2012 10:00:48 AM
Posted: 4 years ago
At 10/15/2012 6:16:57 AM, Wallstreetatheist wrote:
Alvin E. Roth
-Born: 1951
-Affiliation at the time of the award: Harvard University, Cambridge, MA, USA, Harvard Business School, Boston, MA, USA
-Prize motivation: "for the theory of stable allocations and the practice of market design"
-Sample of work: http://kuznets.fas.harvard.edu...

Lloyd S. Shapley
-Born: 1923, Cambridge, MA, USA
-Affiliation at the time of the award: University of California, Los Angeles, CA, USA
-Sample of work: http://www.econ.ucsb.edu...

Prize motivation (both economists): "for the theory of stable allocations and the practice of market design."



I was reading this while in a quiet free time computer lab at my college, and I noticed your signature and literally burst out laughing uncontrollably.

As someone who identifies with Austrian economics (assuming you still do) how does this all make you feel? What do you think of the work of these 2 economists?
truthseeker613
Posts: 464
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10/21/2012 5:28:11 PM
Posted: 4 years ago
At 10/15/2012 6:16:57 AM, Wallstreetatheist wrote:
Alvin E. Roth
-Born: 1951
-Affiliation at the time of the award: Harvard University, Cambridge, MA, USA, Harvard Business School, Boston, MA, USA
-Prize motivation: "for the theory of stable allocations and the practice of market design"
-Sample of work: http://kuznets.fas.harvard.edu...

Lloyd S. Shapley
-Born: 1923, Cambridge, MA, USA
-Affiliation at the time of the award: University of California, Los Angeles, CA, USA
-Sample of work: http://www.econ.ucsb.edu...

Prize motivation (both economists): "for the theory of stable allocations and the practice of market design."



I know Alvin E. Roth is Jewish, does anyone know about Lloyd S. Shapley?
http://www.nydailynews.com...

royalpaladin: I'd rather support people who kill spies than a nation that organizes assassination squads (Kidon) to illegally enter into other nations and kill anybody who is not a Zionist. Who knows when they'll kill me for the crime of not supporting Israel?

Koopin: LOL! I just imagine Royal sitting in here apartment at night, when suddenly she hears a man outside speaking Hebrew as sh
truthseeker613
Posts: 464
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10/21/2012 5:34:08 PM
Posted: 4 years ago
At 10/21/2012 5:28:11 PM, truthseeker613 wrote:
At 10/15/2012 6:16:57 AM, Wallstreetatheist wrote:
Alvin E. Roth
-Born: 1951
-Affiliation at the time of the award: Harvard University, Cambridge, MA, USA, Harvard Business School, Boston, MA, USA
-Prize motivation: "for the theory of stable allocations and the practice of market design"
-Sample of work: http://kuznets.fas.harvard.edu...

Lloyd S. Shapley
-Born: 1923, Cambridge, MA, USA
-Affiliation at the time of the award: University of California, Los Angeles, CA, USA
-Sample of work: http://www.econ.ucsb.edu...

Prize motivation (both economists): "for the theory of stable allocations and the practice of market design."



I know Alvin E. Roth is Jewish, does anyone know about Lloyd S. Shapley?

He worked with Samuel Karlin on matrix games, with Robert Aumann on non-atomic games and on long-term competition, and Potential Games [1996] with Dov Monderer, Games and Economic Behavior.

He also has a Honorary Ph.D. From Hebrew University of Jerusalem

And he won a Nobel Prize.

He must be jewish.
http://www.nydailynews.com...

royalpaladin: I'd rather support people who kill spies than a nation that organizes assassination squads (Kidon) to illegally enter into other nations and kill anybody who is not a Zionist. Who knows when they'll kill me for the crime of not supporting Israel?

Koopin: LOL! I just imagine Royal sitting in here apartment at night, when suddenly she hears a man outside speaking Hebrew as sh
Wallstreetatheist
Posts: 7,132
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10/21/2012 11:05:00 PM
Posted: 4 years ago
At 10/15/2012 10:00:48 AM, jat93 wrote:
I was reading this while in a quiet free time computer lab at my college, and I noticed your signature and literally burst out laughing uncontrollably.

lol, Dogknox is so tactless.

As someone who identifies with Austrian economics (assuming you still do) how does this all make you feel? What do you think of the work of these 2 economists?

I think the approach is nuanced, but way too specific. It's related to game theory, and focuses on the way people are matched with limited resources, such as patients with donated organs or students with their preferred high schools. Shapley's work focused on marriage matches. Most schools of economic thought are kind of disappointed with the Nobel Committee's choice for economics this year.

I'll quote Charles Rowley, "The contributions of Roth and Shapley represent grunt work that can easily be provided by computer novices. In environments where markets do not -- or are not allowed -- to function an infinite number of matching solutions vie for attention. Pick your preferred outcome and program the computer to deliver it. Then sit back, hope that the Committee shares your prejudices, and wait for the 3 am call from Sweden!" Source: [http://charlesrowley.wordpress.com...]

Even Steven Levitt (Freakonomics) thinks this year's prize is weird, "The first time I read Roth's work in this area I had a strong reaction: this isn't really economics. His applications, while based on general theories and principles, involve solutions that are highly dependent on the particular institutions and quirks of the setting he is studying. In my youth, I was under the illusion that economic principles should be universal. It was in part through my appreciation of Roth's work, that I came to think very differently about the world and appreciate how critical it is to think about the specifics of the setting when coming up with solutions." Source: [http://www.freakonomics.com...]

Here's a brief article about the work: http://kuznets.fas.harvard.edu...
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Primal Diet. Lifting. Reading. Psychedelics. Cold-Approach Pickup. Music.