Monday, October 15, 2012

Nobel Without Emotion

 The new winners of the Nobel Prize  for economics must be living on another planet whose inhabitants have no emotions. Elegant theory it may be, but relevant to the real world is another mater.

"Mr. Shapley explained how individuals can be paired together in a stable match even when they disagree about what qualities make the right match. The paper focused on designing an ideal, perfectly stable marriage market: that is, how mates find one another in a fair way, so that no one who is already married would want (and be able) to break off and pair up with someone else who is already married.
It was an elegant and simple mathematical model that explained the optimal way to match up men and women.

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