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The 2007 Nobel Prize in Economics: Mechanism Design Theory

Author

Abstract

The 2007 Nobel Prize in Economics has been awarded to Leonid Hurwicz, Eric Maskin, and Roger Myerson, for their contributions to mechanism design theory. The article discusses the importance of mechanism design theory for modern economics, focusing on some of its implications for economic policy making.

Suggested Citation

  • Martin Èihák, 2008. "The 2007 Nobel Prize in Economics: Mechanism Design Theory," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 58(01-02), pages 82-89, January.
    • Handle: RePEc:fau:fauart:v:58:y:2008:i:1-2:p:82-89
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    More about this item

    Keywords

    Nobel Prize; mechanism design; economic policy;
    All these keywords.

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation

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