3 Share Nobel Economics Prize for Labor Analysis

STOCKHOLM (AP) — Two Americans, Peter A. Diamond and Dale T. Mortensen, and Christopher A. Pissarides, a British and Cypriot citizen, have won the 2010 Nobel economics prize.

The Royal Swedish Academy of Sciences said they won the prestigious award “for their analysis of markets with search frictions.”

Mr. Diamond, 70, was born in New York and is affiliated with the Massachusetts Institute of Technology. Mr. Mortensen, 71, was born in Enterprise, Ore., and is affiliated with Northwestern University. Mr. Pissarides, 62, is a native of Cyprus and is at the London School of Economics and Political Science.

Last year, the prize was awarded to social scientists, Elinor Ostrom, 76, at Indiana University, and Oliver E. Williamson, 77, at the University of California, Berkeley, for their work in describing the numerous relationships within a company or among companies and individuals that shape market behavior.