The final Nobel Prize winners were announced in Stockholm, Sweden on Monday. Alvin E. Roth of Harvard University and Lloyd Shapley of UCLA have been awarded the Nobel Prize in economics for their work in market design and matching theory. Last week, the names of the other 2012 Nobel Prize winners were announced in Stockholm, Sweden. The Nobel Prize Recognizes excellence in Physics, Chemistry, Physiology or Medicine, Literature, Peace initiatives, and Economic Science.
Here is a look at the 2012 Nobel Prize Winners
The Nobel Prize in Physics: Meet Frenchman Serge Haroche and American David J. Wineland, the two 68-year-old winners for, “particle control in a quantum world.” Translation: Their individual discoveries will advance the development of a quantum computer, and could allow for the creation of a clock that is 100 times more precise than those used currently.
The Nobel Prize in Chemistry: Meet Robert J. Lefkowitz and Brian K. Kobilka, two American chemists recognized for their work with G-protein-coupled receptors, which allow cells to sense light, flavor and odor, and to receive signals from hormones and neurotransmitters. According to NPR, their research has allowed drug-makers to begin developing medications with fewer side effects.
The Nobel Prize in Physiology or Medicine: Meet Sir John B. Gurdon of the United Kingdom, and Shinya Yamanaka of Japan. According to the Nobel Assembly, these two scientists were recognized for discovering that mature, specialized cells can be reprogrammed to become immature cells capable of developing into all tissues of the body. Translation: They discovered cells can turn back the developmental clock under certain circumstances. Their findings have revolutionized our understanding of how cells and organisms develop.
The Nobel Prize in Literature: No, it’s not Fifty Shades of Greyauthor E.L. James. It’s Guan Moye, better known by his pen-name Mo Yan, which in Chinese means “don’t speak.” Best known for his 1978 novel, “Red Sorghum,” he is the second Chinese author to win a Nobel Prize (dissident Liu Xiaobo won the Nobel Peace Prize in 2010, however his award is not recognized by the Chinese Communist Party).
The Nobel Peace Prize: The 27-nation strong European Union was awarded the famed Nobel Peace Prize for building peace and reconciliation among European Nations. The prize was given to applaud the Union’s solidarity as it continues not only to work on the European debt crisis, but to discourage extremism and nationalism.
The Nobel Prize in Economic Sciences: Alvin E. Roth of Harvard University and Lloyd Shapley of UCLA were recognized for their work in market design and matching theory. According to CNN, “Roth and Shapley’s work focuses on finding the most efficient way to match parties in a transaction, whether it be students to schools or organ donors to recipients, according to the academy.”
