STOCKHOLM — Americans Peter Diamond and Dale Mortensen and Christopher Pissarides, a British and Cypriot citizen, have won the 2010 Nobel economics prize.
The Royal Swedish Academy of Sciences said they won the prestigious the 10 million Swedish crown ($1.5 million) award "for their analysis of markets with search frictions."
The trios work can explain how unemployment, job vacancies and wages are affected by regulation and policy, the prize committee said Monday.
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