STOCKHOLM (Reuters) - Two Americans and a British-Cypriot won the 2010 Nobel economics prize Monday.
Here are some details about the winners:
-- Diamond was born in April 1940 and gained a BA in Mathematics at Yale University in 1960 and a PHD in Economics from Massachusetts Institute of Technology (MIT) in 1963.
-- Diamond was promoted to full professor in 1970 at MIT, served as head of the Department of Economics in 1985-86 and was named an Institute Professor in 1997.
-- He is a member of the National Academy of Sciences and a Fellow of the American Academy of Arts and Sciences.
-- His research has included work on government debt and capital accumulation, capital markets and risk sharing, optimal taxation, search and matching in labor markets, and social insurance.
-- Mortensen was born in February 1939 and gained a BA in Economics at Willamette University in Oregon in 1961 and a PhD in Economics at Carnegie-Mellon University in Pittsburgh in 1967. He has been on the faculty of Northwestern University since 1965.
-- Mortensen pioneered the theory of job search and search unemployment and extended it to study labor turnover, research and development, personal relationships, and labor reallocation.
-- His insight, that friction is equivalent to the random arrival of trading partners, has become the leading technique for analysis of labor markets and the effects of labor market policy.
-- Born in Cyprus in 1948, he gained a BA in Economics in 1970 and MA in Economics in 1971 at the University of Essex. He subsequently enrolled at the London School of Economics (LSE), where he received his PhD in Economics in 1973. He is currently professor of economics at the LSE and holder of the Norman Sosnow Chair in Economics.
-- He has specialized in the economics of unemployment, labor-market theory, labor-market policy and more recently he has written about growth and structural change.
-- He has written extensively in professional journals and his book “Equilibrium Unemployment Theory” is a standard reference in the economics of unemployment.
Sources: Reuters/www.nobel.org/LSE/here (Writing by David Cutler, London Editorial Reference Reuters/www.nobel.org/LSE/here (Writing by David Cutler, London Editorial Reference Unit; Editing by Charles Dick)