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Another success for game theory: Nobel laureates in economic sciences in 2012

Author

Listed:
  • Waclaw Stankiewicz

    (Warsaw Private School of Business, Public Administration and Information Technology)

Abstract

Game theory has earned recognition in economics along with the development of mathematical economics. It was reflected in Nobel Prizes, especially in 1994, 2005 and 2007. Lloyd Shapley and Alvin Roth award honours the achievements of a distinguished, elderly champion in the paradigm of game theory and a younger scholar who is also an effective organiser of matching pairs in the allocation of markets which fit the framework of game theory. Successes in marriage matchmaking, school recruitment and regulations of the exchange of human organs for the purpose of transplantation have already become an inspiration for further research and new markets improvement.

Suggested Citation

  • Waclaw Stankiewicz, 2013. "Another success for game theory: Nobel laureates in economic sciences in 2012," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 12(1), pages 163-183, March.
    • Handle: RePEc:cpn:umkeip:v:12:y:2013:i:1:p:163-183
    DOI: 10.12775/EiP.2013.014
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    References listed on IDEAS

    as
    1. Tayfun Sönmez & Alvin E. Roth & M. Utku Ünver, 2007. "Efficient Kidney Exchange: Coincidence of Wants in Markets with Compatibility-Based Preferences," American Economic Review, American Economic Association, vol. 97(3), pages 828-851, June.
    2. Atila Abdulkadiroğlu & Parag A. Pathak & Alvin E. Roth, 2005. "The New York City High School Match," American Economic Review, American Economic Association, vol. 95(2), pages 364-367, May.
    3. Alvin E. Roth, 2010. "Marketplace Institutions Related to the Timing of Transactions," NBER Working Papers 16556, National Bureau of Economic Research, Inc.
    4. Roth, Alvin E., 1993. "The Early History of Experimental Economics," Journal of the History of Economic Thought, Cambridge University Press, vol. 15(2), pages 184-209, October.
    5. Roth, Alvin E, 1984. "The Evolution of the Labor Market for Medical Interns and Residents: A Case Study in Game Theory," Journal of Political Economy, University of Chicago Press, vol. 92(6), pages 991-1016, December.
    6. Shapley, Lloyd & Scarf, Herbert, 1974. "On cores and indivisibility," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 23-37, March.
    7. Alvin E. Roth & Tayfun Sönmez, 2005. "A Kidney Exchange Clearinghouse in New England," American Economic Review, American Economic Association, vol. 95(2), pages 376-380, May.
    8. Atila Abdulkadiroglu & Parag A. Pathak & Alvin E. Roth & Tayfun Sönmez, 2006. "Changing the Boston School Choice Mechanism," Levine's Bibliography 122247000000001022, UCLA Department of Economics.
    9. Killion, M. Ulric, 2009. "Relation of game theory to economic history and marginalism," MPRA Paper 13378, University Library of Munich, Germany.
    10. Elliott Peranson & Alvin E. Roth, 1999. "The Redesign of the Matching Market for American Physicians: Some Engineering Aspects of Economic Design," American Economic Review, American Economic Association, vol. 89(4), pages 748-780, September.
    11. Shapley, L. S. & Shubik, Martin, 1954. "A Method for Evaluating the Distribution of Power in a Committee System," American Political Science Review, Cambridge University Press, vol. 48(3), pages 787-792, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    game theory; theory of stable allocations; practice of market design;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching
    • B - Schools of Economic Thought and Methodology
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

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