The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2010
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© The Nobel Foundation. Photo: U. Montan
Peter A. Diamond
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2010
Born: 29 April 1940, New York, NY, USA
Affiliation at the time of the award: Massachusetts Institute of Technology (MIT), Cambridge, MA, USA
Prize motivation: “for their analysis of markets with search frictions”
Prize share: 1/3
Work
Peter Diamond was awarded the Prize in Economic Sciences for his work on a theoretical framework for search markets. The models developed by Diamond and his co-recipients Mortensen and Pissarides help us understand the way in which unemployment, job vacancies and wages are affected by regulation and economic policy. Diamond received his PhD from MIT in 1963 and has remained with the faculty since 1966.
Six prizes were awarded for achievements that have conferred the greatest benefit to humankind. The 12 laureates' work and discoveries range from proteins' structures and machine learning to fighting for a world free of nuclear weapons.
See them all presented here.
