The Prize in Economic Sciences in Memory of Alfred Nobel 2010, was awarded to Peter A. Diamond of the MIT, Dale T. Mortensen of Northwestern University and Christopher A. Pissarides of the London School of Economics for their analysis of markets with search frictions, according to the Nobel committee. Though the theories are useful for many markets where interactions are more complicated than matching buyers and sellers, including housing and monetary theory, the committee cited its application to the labor market as a key contribution.
Oct 11