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News & Events

Economics Professor Dale Mortensen wins the 2010 Nobel Prize

The award recognizes work that helps to explain ‘search frictions’ in labor markets

10/11/2010 - Dale T. Mortensen, the Ida C. Cook Professor of Economics at Northwestern University, has won the 2010 Nobel Prize in Economics.

Mortensen shares the prize with Peter Diamond of the Massachusetts Institute of Technology and Christopher Pissarides of the London School of Economics and Political Science in the United Kingdom.

The prize recognized the trio’s “analysis of markets with search frictions,” the Royal Swedish Academy of Sciences said. The three developed a framework that seeks to explain why there are so many people unemployed at the same time as there are a large number of job openings.

Listen to Professor Mortensen discuss his work and learn how Kellogg and Northwestern faculty accurately predicted Mortensen’s win in the blog Expertly Wrapped.