Nobel Prize for economics awarded to two U.S. economists
Source: CNN
(CNN) -- Alvin E. Roth of Harvard University and Lloyd Shapley of UCLA have been awarded the Nobel Prize in economics, the Royal Swedish Academy of Sciences announced Monday.
The economics prize is the sixth and final of the annual awards that spotlight the world's top scholars and peacemakers.
The economics award was not among the original prizes created in 1895 by Swedish industrialist Alfred Nobel to honor work in physics, medicine, chemistry, literature and peace. It was added as a category in 1969 by the Swedish central bank in memory of the industrialist.
Read more: http://www.cnn.com/2012/10/15/world/europe/sweden-nobel-economics/index.html
ancianita
(36,133 posts)Can anyone explain it to a layperson? Stochastic gaming sounds pretty ominous to me.
jsr
(7,712 posts)It is commonly known as a solution to the stable marriage problem, and is an algorithm that can take a population of people and match them all to a suitable marriage candidate.
It involves a series of rounds in the first, a man "proposes" to his ideal woman. The pair are then provisionally matched, with all other proposals rejected.
In the next round each remaining unpaired man proposes to his favoured woman (excluding the one he has already proposed to, regardless of whether she is already matched). Each woman then replies "maybe" to her favoured suitor allowing her to swap to a more suitable/desirable partner.
The process continues until everyone is matched in a favourable relationship.
bucolic_frolic
(43,281 posts)freewheeling here, a mathematical echo of reality that indicates short
term likely outcomes. In stocks it indicates short term direction.
Hey, told you it was off the top of my head.
PoliticAverse
(26,366 posts)Odin2005
(53,521 posts)It's an award given out by Swedish banksters and has nothing to do with Alfred Nobel. It is the cynical use of Nobel's name by the PTB to peddle BS.
ronnie624
(5,764 posts)I clicked on this thread to say just that.
bananas
(27,509 posts)Lefty Thinker
(96 posts)I still wonder that Paul Krugman managed to snag one. Someone must have been dozing at the switch.