Alvin Roth and Lloyd Shapley, American economists with ties to Israeli universities, won the Nobel Prize for economics.
The professors won the prize, called the Nobel Memorial Prize in Economic Sciences, for their research in how to make economic markets work better by more precisely matching supply with demand.
Shapley, 89, used game theory to study the problem. Roth, 60, helped redesign the medical residents’ match program to make it more efficient for young doctors.
The prize was announced Oct. 15.
Shapley was awarded an honorary doctorate from Hebrew University in 1986 and has worked with Israeli Nobel Prize laureate Robert Auman, who won his Nobel for his work with game theory.
Roth, who is Jewish, was a visiting professor of economics at the Technion in Haifa in 1986, and a visiting professor at the Hebrew University in Jerusalem and Tel Aviv University in 1995. Roth frequently visits Israel, Auman said.