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《Reform》 2013-01
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The Commentary on 2012 Nobel Prize in Economics: Ross and Shapley

Zhang Huaxin Liu Haiying  
Alvin Roth and Lloyd Shapley shared the 2012 Nobel Prize in Economic Sciences for their works in stable allocations and the practice of market design.Shapley made the early theoretical contributions which chiefly encompass the foundations for the theoretical framework and his findings generate the further empirical research and practical design of institutions.The empirical relevance of the theoretical framework was recognized by Roth who used this framework,in combination with empirical researches,laboratory experiments and computer simulations to verify the theory and design institutions that help markets function better.Their contributions also include introducing the main solution concept for coalitional games,algorithm and significant contributions in the field of experimental economics.
【CateGory Index】: F0
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