Two US scientists win Nobel Prize in Economics
The 2002 Nobel Prize in Economics was awarded to Daniel Keyneman and Vernon Smith. Keineman, 68, is a dual citizen of the US and Israel and works at Princeton University in the US. Smith, 75, is an American and works at George Mason University, Virginia, USA. They are awarded the prize for the use of psychological research and laboratory experiments in economics. Keineman applied the concept of "insight" in economics, which is widely used in psychology.