Nobel Prize in Economics awarded to Roth and Shapley for matching algorithm work
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Re: Nobel Prize in Economics awarded to Roth and Shapley for matching algorithm work
#2The so-called "nobel" prize in economics does not come from the estate of Alfred Nobel. It comes from the central bank. Thus it is not surprising to see it given to people that central banks would favor (often people whose theories try to justify inflationary policies.)
This one seems to be given for work that could be said to claim that central planning really can work after all.
Re: Nobel Prize in Economics awarded to Roth and Shapley for matching algorithm work
#3Their work has nothing to do with central planning in the sense of committee deciding on production quotas---it's actually about how to allocate indivisible resources (school positions, kidneys, residency slots etc.) in situations where using money isn't feasible and/or the market has broken down due to problems like congestion or lack of market thickness.
Re: Nobel Prize in Economics awarded to Roth and Shapley for matching algorithm work
#4I find it interesting that they awarded the prize to Shapley after Gale's death[0]. I always thought that there was some rule that prevented them from awarding the Physics Nobel Prize to Aharonov after Bohm died[1].
Re: Nobel Prize in Economics awarded to Roth and Shapley for matching algorithm work
#5The so-called "nobel" prize in economics does not come from the estate of Alfred Nobel. It comes from the central bank. Thus it is not surprising to see it given to people that central banks would favor (often people whose theories try to justify inflationary policies.) This one seems to be given for work that could be said to claim that central planning really can work after all.
They are creating decentralized mechanisms for free individuals to find individually and socially beneficial outcomes. The free market organized by the U.S. legal system is one such mechanism, but certainly not the only one.
Re: Nobel Prize in Economics awarded to Roth and Shapley for matching algorithm work
#6There is no Nobel Prize in Economics.
http://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Economi...
Re: Nobel Prize in Economics awarded to Roth and Shapley for matching algorithm work
#7I find it interesting that they awarded the prize to Shapley after Gale's death[0]. I always thought that there was some rule that prevented them from awarding the Physics Nobel Prize to Aharonov after Bohm died[1]. [0] https://en.wikipedia.org/wiki/Stable_marriage_problem [1] http://en.wikipedia.org/wiki/Aharonov–Bohm_effect
Several Nobels have been given out after a collaborator's death - probably the most famous being Watson and Crick's prize four years after Rosalind Frankin's death.
Re: Nobel Prize in Economics awarded to Roth and Shapley for matching algorithm work
#8There is no Nobel Prize in Economics
http://www.alternet.org/economy/there-no-nobel-prize-economi...
Re: Nobel Prize in Economics awarded to Roth and Shapley for matching algorithm work
#9There is no Nobel Prize in Economics http://www.alternet.org/economy/there-no-nobel-prize-economi...
Wasn't that due to Nobel girlfriend leaving him for an economist? Read something about that but can't find the surce at the moment (bad connectivity)
And I don't see that in the first 2 pages. Or was that about the math nobel prize ?
Re: Nobel Prize in Economics awarded to Roth and Shapley for matching algorithm work
#10I find it interesting that they awarded the prize to Shapley after Gale's death[0]. I always thought that there was some rule that prevented them from awarding the Physics Nobel Prize to Aharonov after Bohm died[1]. [0] https://en.wikipedia.org/wiki/Stable_marriage_problem [1] http://en.wikipedia.org/wiki/Aharonov–Bohm_effect
You are correct, Nobel prizes are not awarded to the dead, unless they die just after announcing the prize and before the ceremony (http://www.guardian.co.uk/science/2011/oct/03/nobel-prize-aw...). Gandhi was denied the prize for this reason.
In this case, it is simply the post title being misleading, as it's not the Nobel prize these folks won, but the Nobel memorial prize in economics, which is a relatively new prize which is not part of the 5 Nobel prizes which had been given by Nobel's estate for more than a century.
Edit: oh I see they didn't reward a dead in this case, misread your comment..