Nobel Prize in economics 2012 awarded for insights into the topic of matching

Lloyd Shapley and Alvin Roth received the Nobel Prize in economics 2012 (link in german) for their “theory of stable allocations and the practice of market design” (link in german).

The approach used by the two Americans is primarily based on of the appropriate matching of agents in areas which exceed the limitations of traditional market mechanisms (link in german), e.g. when students are trying to find their ideal university, and vice versa.A key statement from the Nobel Prize-winning work is that the matching, i.e. the overlap in interests and requirements, must always be as large as possible. The relevance of these insights to the modern labour market is confirmed by a recently published report from the European Central Bank (ECB). In the report, the ECB also concludes that the long-standing “mismatch” between the qualifications required and the qualifications available in the global labour market poses one of the greatest challenges. A solution for this must be found in order, firstly, to reduce the existing rate of unemployment, and, secondly, to counteract a common paradox. For although many, mainly young, people in Europe cannot find a job, a new study (link in german) indicates that employers are finding it increasingly difficult to find suitably qualified personnel. This is also the case in Switzerland. Therefore it is becoming increasingly important to have a global comparison of the existing supply and demand for knowledge, skills, and experience which is as accurate as possible, in order to make use of countries’ economic capacities to the full and significantly reduce unemployment.

Now, for the first time, has made it possible to make a precise comparison of the supply of and demand for all kinds of knowledge and skills., the global platform launched by, offers a simple, automatic comparison of all skills by using high-quality matching. The Semantic Web technologies used in this process show registered employees where and when their skills are needed in real time, while employers can find out which employees possess exactly the required abilities, skills and experience, and when they are available. This enables simply and securely to match the appropriate people, companies, jobs, and projects in real time and across languages, borders, and regions – for the benefit of private individuals, companies, and entire economies.
All a user needs to do is complete a one-off registration and record the skills they offer/seek, and they automatically and continuously become a part of the global showcase of knowledge and skills. The same applies to employment (full-time or part-time, temporary or open-ended), an individual project, or occasional assignments (language teaching, child care, gardening work, etc.), whether in the private or professional sphere, whether in Switzerland, neighbouring countries, or other parts of the world. And registering on is free for those under the age of 25, as is the advertising of teaching positions, work experience and internships for companies.