Economists win Nobel prize for explaining the importance of job matching

October 11, 2010 § Leave a comment

Today’s  Nobel prize in economics is given to three researchers for work that explains the intricacies of complex markets where the buyer and the seller are not trading commodities and the value of the same “product” can be worth zero to one buyer and significant investment to another. This is exactly the market of jobs (labor) in the high-tech and science fields. It is also the market for patents and knowledge, grants and other highly differentiated products. The three economists point out that this is essentially a “search” and matching problem and that efficiencies in this marketplace can be achieved through improved matching algorithms. We completely agree, and that is the basis for why we created iAMscientist opportunities. We believe that the scientific knowledge “marketplace” needs improved matching algorithms to improve the value to both the developer of the knowledge and its consumer.

You can read more about the Nobel Prize in economics here: http://nobelprize.org/nobel_prizes/economics/laureates/2010/

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