EVANSTON, IL -- Nobel laureate and longtime Northwestern University economics professor Dale Mortensen has died.
Mortensen shared the Nobel economics prize with two other Americans in 2010 for their work explaining how unemployment can remain high despite a large number of job openings.
His personal assistant and close family friend, Sue Triforo, says Mortensen died Thursday at his home in Wilmette, Illinois. He was 74.
Northwestern President Morton Schapiro paid tribute to Mortensen, saying "his groundbreaking work is especially relevant to policymakers attempting to address unemployment today."
Mortensen was born in Enterprise, Oregon. He had been at Northwestern in suburban Chicago since 1965. He also was an accomplished musician.
Survivors include his wife, Beverly, their son and two daughters, and eight grandchildren.
A public memorial will be announced later.