Peter A. Diamond, Dale T. Mortensen, and Christopher A. Pissarides Shared 2010 Nobel Prize for Research on Job Search and Labor Market Frictions

NBER Research Associates Peter A. Diamond and Dale T. Mortensen shared the 2010 Nobel Memorial Prize in Economic Sciences with Christopher A. Pissarides. In making the award, the Royal Swedish Academy of Sciences highlighted the three researchers' analysis of markets with search frictions. Diamond analyzed the foundations of search markets; he, Mortensen, and Pissarides expanded the theory and applied it to the labor market. “The Laureates’ models help us understand the ways in which unemployment, job vacancies, and wages are affected by regulation and economic policy,” the Academy said. 

At the time of the award, Diamond was Institute Professor and a professor of economics at MIT and was affiliated with the NBER programs on Economic Fluctuations and Growth (EFG) and Public Economics. Mortensen was the Ida C. Cook Professor of Economics at Northwestern University and an affiliate of the EFG Program. Pissarides was professor of economics and Norman Sosnow Chair in Economics at the London School of Economics and Political Science.

More information on these Nobel laureates