Professor with Pitt ties wins Nobel economics prize
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Alvin Roth -- one of two economists sharing the 2012 Nobel economics prize -- was a professor at the University of Pittsburgh from 1982 to 1998 and started the market design research that ultimately led to the prize.
The Royal Swedish Academy of Sciences today announced Mr. Roth, 60, who became a professor of economics and business administration at Harvard after leaving Pitt, and Lloyd Shapely, 89, professor emeritus at the University of California, Los Angeles, are sharing the prize for their work on matching supply and demand in a range of applications.
In a press release, Lise Vesterlund, the current Andrew W. Mellon Professor of Economics at Pitt, said, "Central to Professor Roth's work on market design has been the use of theory and laboratory experiments. Under his leadership, the Department of Economics at Pitt became, and is still regarded as being, one of the leaders in experimental economics."
Mr. Roth is leaving Harvard later this year for a position at Stanford University, where he is a visiting professor of economics.
At Pitt, Mr. Roth also was a fellow in the Center for Philosphy of Science and taught in the Katz Business School.
The economics prize was not included in Alfred Nobel's will in 1895 but was created in Nobel's memory in 1968.
First Published October 15, 2012 1:35 pm