Peter A. Diamond
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2010
Born: 29 April 1940, New York, NY, USA
Affiliation at the time of the award: Massachusetts Institute of Technology (MIT), Cambridge, MA, USA
Prize motivation: “for their analysis of markets with search frictions”
Prize share: 1/3
Peter Diamond was awarded the Prize in Economic Sciences for his work on a theoretical framework for search markets. The models developed by Diamond and his co-recipients Mortensen and Pissarides help us understand the way in which unemployment, job vacancies and wages are affected by regulation and economic policy. Diamond received his PhD from MIT in 1963 and has remained with the faculty since 1966.