The algorithm did not do very much to solve anyone’s marriage issues. But it did suggest ways to understand some kinds of markets better.

David Gale died a few years ago. Alvin Roth built on the work, although he and Lloyd Shapley did not work together. Mr. Roth recognized the value of the Gale-Shapley findings. And he applied it to real-life markets.

These included markets where the normal supply and demand relationship does not work, and where payment is not used. These markets require matching market actors such as organ donors and recipients, or students with public schools. Mr. Roth’s work was also used to match new doctors with hospitals.

The Royal Swedish Academy called the work of Mr. Roth and Mr. Shapley an outstanding example of economic engineering.

Alvin Roth said market design is a new field and the prize may draw more attention to it.

"You know, my colleagues and I work in an area that we're calling 'market design', which is sort of a newish area of economics and I'm sure that when I get to class this morning my students will pay more attention."

Alvin Roth and Lloyd Shapley will share the prize, which is worth over one million dollars.

And that’s the Economics Report in Special English. I’m Mario Ritter.

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