A British-Cypriot and two Americans have won the 2010 economics Nobel for work focusing on problems like unemployment.
Peter Diamond, Dale Mortensen and Christopher Pissarides (photo) were honored with the 10 million Swedish kronor ($1.5 million) prize for their analysis of the the obstacles that prevent buyers and sellers from efficiently pairing up in markets.
Their work included analysis of the process of buying and selling and how job vacancies and wages are affected by regulation and policy.
Pissarides, a 62-year-old professor at the London School of Economics, said he received the news with “a mixture of surprise and happiness, general satisfaction.
“This is prize is so great you don’t believe that you will get it even after you’ve got it,” he said, in a live telephone conference with the academy in Stockholm.
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