Trio share Nobel economics prize

Peter Diamond, Dale Mortensen and Christopher Pissarides have won the 2010 Nobel economics prize for their "analysis of markets with search frictions". According to the Business Insider, "the Laureates' models help us understand the ways in which unemployment, job vacancies, and wages are affected by regulation and economic policy". Diamond was recently nominated by the White House to sit on the Board of Governors of the Federal Reserve System. The Nobel prize in economics wasn't on the original list of prizes, but was created in 1968 by the Swedish central bank in Alfred Nobel's memory.  Read more: Wall Street Journal, Business Insider