October 15, 2007
Mechanism Design Takes the Day
Posted by Gordon Smith

Three Americans have been awarded the Nobel Memorial Prize in Economic Science: Leonid Hurwicz, Roger B. Myerson, and Eric S. Maskin. If you are familiar with incomplete contract theory, you have undoubtedly stumbled across their work. A helpful intro to mechanism design was created by the Nobel Prize Committee.

Hurwicz, at 90 years old, is the oldest person to win a Nobel Prize. Myerson is a professor at the University of Chicago and is the 24th person with ties to UC who has won the Economics Prize (see here for a complete list). Maskin, who has an appointment at the Institute for Advanced Study in Princeton, gets another prize in my book for humility: "There are so many people who could win. It's like winning the lottery basically."

Congrats all around.

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