Leonid Hurwicz Quotes


A need for enforcement implies the possibility of behavior that violates the rules of the game. The point is that if there were no possibility of violation, then you wouldn't need enforcement.


Citations

Hurwicz, Leonid. "Leonid Hurwicz - Interview." Interview by Adam Smith. NobelPrize.org, Nobel Prize Outreach AB, 15 Oct. 2007.

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Leonid Hurwicz
Leonid Hurwicz
  • Born: August 21, 1917
  • Died: June 24, 2008
  • Nationality: Polish
  • Profession: Economist

Leonid "Leo" 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 (with Eric Maskin and Roger Myerson) for his seminal work on mechanism design. Hurwicz was one of the oldest Nobel Laureates, having received the prize at the age of 90.