Monday, October 15, 2012

Economics Nobel Prize - For layperson, what is Matching Theory?

http://en.wikipedia.org/wiki/Matching_theory_%28economics%29
Dried seafood - NY Chinatown - photo copyright Kyi May Kaung. Prices help match buyers and sellers at micro level (individual level) at macro level for the whole economy, Market Models attempt to find out the balance - but models are only as good as the mathematical relationship is true and the parameters plugged in are accurate. This year's Nobel in Ecos. is awarded for innovative theory building that has a practical use, for example in matching organ donors and recipients. Kyi May Kaung

Hugh Trevor Roper--wiki

https://en.wikipedia.org/wiki/Hugh_Trevor-Roper