Nobel Prize: Alvin Roth and Lloyd Shapley win economics award - BBC News [getdailynow.blogspot.com]
Question by Kathleen: What does my teacher mean when she refers to a "gunpowder state"? My world history teacher has assigned an essay prompt which says gunpowder state, but I have no idea what that is!! Help! Best answer for What does my teacher mean when she refers to a "gunpowder state"?:
Answer by BabyNamer
Well, think of the idea of gunpowder in a barrel, it's volatile and wouldn't take much to set it off. At least, that's the only explanation I can think of? All I can find is "Gunpowder State Park", or a place called Gunpowder in Maryland.
Answer by Doing the Math
That is not obvious to you? Well either your teacher gets an "F" or you do.
Answer by Josh
THE GROCERY STORE!!!!!!!!!!!!!!
Alvin Roth and Lloyd Shapley have won the 2012 Nobel Prize in economics.
The Royal Swedish Academy of Sciences cited the US academics for their work on the "theory of stable allocations and practice of market design".
The work is concerned with the best possible way to allocate resources, such as in school admissions or organs to patients who need transplants.
Mr Roth is a professor at Harvard and Mr Shapley teaches at the University of California in Los Angeles.
Mr Shapley used "co-operative game theory" to study and compare different ways to match two interested parties.
He and his colleagues derived the Gale-Shapley algorithm to ensure stable matching, that is the best possible outcome for both sides.
"Even though these two researchers worked independently of one another, the combination of Shapley's basic theory and Roth's empirical investigations, experiments and practical design has generated a flourishing field of research and improved the performance of many markets," the Academy said.
The awards continue a strong US run of victories in the category of economic sciences.
Forty-three prizes in economics have been awarded every year since 1969.
The prize was not part of the prizes set out in Alfred Nobel's will and was set up in 1968 by Sweden's central bank.
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