STOCKHOLM – Two Americans and a British-Cypriot economist won the 2010 Nobel economics prize yesterday for developing a theory that helps explain how many people can remain unemployed despite a large number of job vacancies.
Federal Reserve board nominee Peter Diamond was honoured along with Dale Mortensen and Christopher Pissarides with the 10 million Swedish kronor (US$1.5 million) prize for their analysis of the obstacles that prevent buyers and sellers from efficiently pairing up in markets. (AP)
