U of C Professor wins Noble Prize in Economics

Leonid Hurwicz, Eric Maskin and Roger Myerson, all from the United
States, were awarded the Nobel Prize in economic sciences on Monday for
laying the foundations for mechanism design theory.

“The theory allows us to distinguish situations in which markets
work well from those in which they do not,” the Royal Swedish Academy
of Sciences said in Stockholm. “It has helped economists identify
efficient trading mechanisms, regulation schemes and voting procedures.”

That bumps the number of Prize winners with University of Chicago ties up to 80. Impressive.