Massachusetts Institute of Technology (M.I.T.) associate professor Peter A. Diamond , Northwestern University professor Dale T. Mortensen and Longer School of Economics and Political Science professor Christopher A. Pissarides won the Sveriges Riksbank Prize in Economic Sciences on Monday. Their work in the 1970s and 1980s sought to explain "search friction," in particular in the employment market, where unemployed workers and employers expend time, effort and money to find and fill job openings. [More]













Scientific American - News