I didn't really knew until latter on about the Economic Nobel Prize. Well there was so controversy about the Peace nobel prize that all other went to oblivion. Just a reminder the this year nobel prize in Economic Sciences (a pleasant name) was shared by three persons. Those of my elders are: Peter Diamond, Dale Mortensen and Christopher Pissarides. They have to settle on sharing an amount between them which a chinese man in prison got alone. Well side stepping the prize, we can talk in a bit detail about these people,,
1. Peter Diamond
US citizen, born 1940 and got PHD in 1963,, hmmmmm he might have started going to school while still on feeder,,, anywayz perhaps in those times it was that easy.
2. Dale Mortensen:
Born in 1939 this guy was a bit late as compared to the first gentleman as he got his one in 1967 (may be he was a bit dull in studies).
3. Christopher A Pissarides
Can you believe this guy is from cyprus but in the process of brain drain went live in UK. Born in 1948, got his PHD in 1973.
The topic for which all these folks got the 1.5 million USD prize is about Labor Economics , job search and costs.
On many markets, buyers and sellers do not always make contact with one another immediately. This concerns, for example, employers who are looking for employees and workers who are trying to find jobs. Since the search process requires time and resources, it creates frictions in the market. On such search markets, the demands of some buyers will not be met, while some sellers cannot sell as much as they would wish. Simultaneously, there are both job vacancies and unemployment on the labor market. At last best of luck to all these and those who are trying to get in future.
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