The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2007
Awarded on: 2007-10-15
"for having laid the foundations of mechanism design theory"
Affiliations:
- University of Minnesota – Minneapolis, MN, USA
Leonid Hurwicz
Born: 1917-08-21 in Moscow, Russia
Gender: male
Field: Polish–American economist and mathematician (1917–2008)
Biography
Leonid Hurwicz was a Polish–American economist and mathematician, known for his work in game theory and mechanism design. He originated the concept of incentive compatibility, and showed how desired outcomes can be achieved by using incentive compatible mechanism design. Hurwicz shared the 2007 Nobel Memorial Prize in Economic Sciences for his seminal work on mechanism design. Hurwicz was one of the oldest Nobel Laureates, having received the prize at the age of 90.