Pathak recognized in 2012 Nobel Prize in Economics”

October 15, 2012

Research by SEII direc­tor Parag Pathak on school assign­ment is fea­tured promi­nently in sci­en­tific state­ment for the 2012 Nobel Prize in Economics. The prize was awarded to Alvin E. Roth and Lloyd S. Shapley “for the the­ory of sta­ble allo­ca­tions and the prac­tice of mar­ket design.“

Market design ideas under­lie much of SEII’s research agenda on school assign­ment. The prize state­ment con­cludes: “Using empir­i­cal, exper­i­men­tal and the­o­ret­i­cal meth­ods, Roth and his coau­thors, includ­ing A. Abdulkadiroglu, P.A. Pathak, T. Sönmez and M.U. Ünver, have stud­ied the insti­tu­tions that improve mar­ket per­for­mance, thereby illu­mi­nat­ing the need for sta­bil­ity and incen­tive com­pat­i­bil­ity. These con­tri­bu­tions led directly to the suc­cess­ful redesign of a num­ber of impor­tant real-world markets.”