2007
Eric S. Maskin
Picture
(1950 - 0)
Nationality
USA
Area of specialisation
Micro Economics
Price Motivation
For having laid the foundations of mechanism design theory
Affiliation at the time of Award
Institute for Advanced study, Princeton, USA
CONTRIBUTION
Developed implementation theory, a theory for achieving particular social or economic goals. An important problem is that a mechanism typically admits multiple equilibrium. Even if the best outcome is possible to achieve other inferior solutions may exist .Maskin was first to develop conditions under which all equilibrium are optimal.
PUBLICATIONS
1, Incentives, scale economies and organizational form (1997) 2, Planning, shortage and Transformation (2000) 3, The Arrow Impossibility Theorem (2014).