Dale T. Mortensen facts for kids
Quick facts for kids
Dale T. Mortensen
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Mortensen in 2010
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| Born | February 2, 1939 |
| Died | January 9, 2014 (aged 74) |
| Nationality | American |
| Institution | Northwestern University |
| Field | Labor economics |
| Alma mater | Carnegie Mellon University Willamette University |
| Doctoral advisor |
Michael C. Lovell |
| Doctoral students |
Ronald G. Ehrenberg |
| Awards | IZA Prize in Labor Economics (2005) Nobel Memorial Prize in Economic Sciences 2010 |
| Information at IDEAS / RePEc | |
Dale Thomas Mortensen (born February 2, 1939 – died January 9, 2014) was a smart American economist. He studied how people find jobs and how markets work. He won the Nobel Memorial Prize in Economic Sciences for his important ideas.
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Early Life and Learning
Dale Mortensen was born in a town called Enterprise, Oregon. He went to Willamette University and earned a degree in economics. Later, he got his PhD in Economics from Carnegie Mellon University. A PhD is a very high degree you can get at a university.
His Career and Discoveries
Dale Mortensen started teaching at Northwestern University in 1965. He became a professor at the Kellogg School of Management in 1980. He also taught in Denmark at Aarhus University for a few years.
In 2010, he won the Nobel Memorial Prize in Economic Sciences. He shared this big award with two other economists, Christopher A. Pissarides and Peter A. Diamond. They won for their work on "search frictions" in markets. This means they studied how hard it can be for buyers and sellers to find each other. Think about how long it takes to find a job or a good employee.
His research mainly focused on labor economics. This is the study of how people work, get paid, and find jobs. He was famous for his ideas on "search and matching theory." This theory helps explain why there is always some unemployment, even when there are jobs available. It's like trying to match puzzle pieces together.
He also studied how businesses hire and fire people. He looked at how companies do research and development. His ideas even helped understand personal relationships.
Awards and Honors
Dale Mortensen received many awards for his important work.
- He became a Fellow of the Econometric Society in 1979.
- He was also a Fellow of the American Academy of Arts and Sciences in 2000.
- He won the IZA Prize in Labor Economics in 2005.
- The biggest award was the Nobel Prize in Economics in 2010.
The Dale T. Mortensen Building
In 2011, Aarhus University in Denmark named a building after him. The Dale T. Mortensen Building is a special place for international students and PhD students. It has a cafe and dorms for students from all over the world.
Images for kids
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Peter Diamond, Dale T. Mortensen, Christopher A. Pissarides, and other Nobel Prize winners in 2010.
