Diamond, Mortensen, Pissarides win Nobel Prize

nobel-medal

The Royal Swedish Academy of Sciences on Monday jointly awarded the Riksbank Prize in Economic Sciences for 2010 to Peter Diamond, a professor at the Massachusetts Institute of Technology, Dale Mortensen, from Northwestern University and Christopher Pissarides, from the London School of Economics.

The trio were recognised for their research of markets with search frictions. They formulated a theoretical framework for search markets that helped explain why large numbers of job vacancies and high

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