Two Americans took the Nobel prize for economics this morning.
Alvin E. Roth, of Harvard University, and Lloyd S. Shapley, of University of California, Los Angeles, were given the award "for the theory of stable allocations and the practice of market design."
If that doesn't mean anything to you, the Nobel committee explained that their work essentially explained an important economic problem: How can different economic actors find each other.
Originally published on Fri October 12, 2012 4:01 am
By Eyder Peralta
Credit Andreas Solaro / AFP/Getty Images
The Norwegian Nobel Committee has bestowed its prestigious Peace Prize upon the European Union for what it says is a six decade contribution "to the advancement of peace and reconciliation, democracy and human rights in Europe"
In its press conference, the committee said the union cemented peace between France and Germany and shows that "through well-aimed efforts and by building up mutual confidence, historical enemies can become close partners."
