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Examples
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At 90 years old, Leonid Hurwicz is the oldest person ever to be made a Laureate, the previous holder of that record being Raymond Davis Jr., who was almost 88 when he became a Physics Laureate in 2002.
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The Prize shared between Hurwicz, Maskin and Myerson follows a similar pattern.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1969-2006 2010
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A number of authors, in particular, Roger Myerson and Eric Maskin, have generalized and developed the insights of Hurwicz, Mirrlees and Vickrey.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1969-2006 2010
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Hurwicz also emphasized the importance that an allocation mechanism is "incentive compatible" in the sense that the predicted, or desired, outcome is consistent with all agents 'economic incentives to act.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1969-2006 2010
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One is Leonid Hurwicz, who defined allocation mechanisms as a game in which the participants act as if they send messages to each other, or to a hypothetical "message center".
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1969-2006 2010
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These various contributions to the theory of allocation mechanisms by Hurwicz, Myerson and Maskin are the background for their joint reward in 2007.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1969-2006 2010
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The oldest Laureate to date is Leonid Hurwicz, 2007 Economics Laureate, who is 90 years old.
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Leo Hurwicz, the founder of the subject, started work on this, well, close to 50 years ago.
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Well, you've been awarded the Prize, together with Leonid Hurwicz and Roger Myerson, for laying the foundations of mechanism design theory.
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Mechanism design theory, initiated by Leonid Hurwicz and further developed by Eric Maskin and Roger Myerson, has greatly enhanced our understanding of the properties of optimal allocation mechanisms in such situations, accounting for individuals 'incentives and private information.
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