Leonid Hurwicz | |
|---|---|
.jpg) Hurwicz in 2005 | |
| Born | August 21, 1917 |
| Died | June 24, 2008 (aged 90) Minneapolis, Minnesota, U.S. |
| Citizenship | Polish, American |
| Academic career | |
| Institution | University of Minnesota Iowa State College Cowles Commission University of Chicago |
| Alma mater | University of Warsaw Graduate Institute of International Studies London School of Economics |
| Doctoral students | Clifford Hildreth Stanley Reiter Daniel McFadden Richard B. McHugh Leigh Tesfatsion Myrna Wooders |
| Influences | Tjalling Koopmans Jacob Marschak Friedrich Hayek |
| Contributions | Mechanism design |
| Awards | National Medal of Science (1990) Nobel Memorial Prize (2007) |
| Information at IDEAS / RePEc | |
Leonid Hurwicz (Polish pronunciation: [lɛˈɔɲit ˈxurvitʂ]; August 21, 1917 – June 24, 2008) was a Polish–American economist and mathematician, known for his work in game theory and mechanism design.[1][2] 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 (with Eric Maskin and Roger Myerson) for his seminal work on mechanism design.[3] Hurwicz was one of the oldest Nobel Laureates, having received the prize at the age of 90.
Hurwicz was educated and grew up in Poland, and became a refugee in the United States after Hitler invaded Poland in 1939. In 1941, Hurwicz worked as a research assistant for Paul Samuelson at the Massachusetts Institute of Technology and Oskar Lange at the University of Chicago. He was a research associate for the Cowles Commission between 1942 and 1946. In 1946 he became an associate professor of economics at Iowa State College. Hurwicz joined the University of Minnesota in 1951, becoming Regents' Professor of Economics in 1969, and Curtis L. Carlson Professor of Economics in 1989. He was Regents' Professor of Economics (Emeritus) at the University of Minnesota when he died in 2008.
Hurwicz was among the first economists to recognize the value of game theory and was a pioneer in its application.[4][5] Interactions of individuals and institutions, markets and trade are analyzed and understood today using the models Hurwicz developed.[6]
- ^ "American Jewish Recipients of the Nobel Prize". Archived from the original on 2011-10-09. Retrieved 2009-09-23.
- ^ "Leonid Hurwicz". www.jewishvirtuallibrary.org.
- ^ Ohlin, Pia (15 October 2007). "US trio wins Nobel Economics Prize". Agence France Presse. Archived from the original on 17 October 2007. Retrieved 2007-10-15.
- ^ Kuhn, Harold (introduction) (7 August 2007). "Sample Chapter for von Neumann, John & Morgenstern, Oskar. Theory of Games and Economic Behavior (Commemorative Edition)". Princeton University Press. Archived from the original on 16 October 2007. Retrieved 2007-10-20.
- ^ Higgins, Charlotte (15 October 2007). "Americans win Nobel for economics". BBC News. Retrieved 2007-10-15.
- ^ Lohr, Steve (2007-10-16). "Three Share Nobel in Economics for Work on Social Mechanisms". The New York Times. Retrieved 2007-10-19.