programs and events 2007

Fulbright Alumnus Receives Nobel Prize in Economics

October 19, 2007

Russian-born economist and Fulbright alumnus Leonid Hurwicz is one of three Americans who will share this year's Nobel Prize in Economics.  Hurwicz' award, announced October 15th, is for the creation of the mechanism design theory.  Fellow Americans Eric Maskin and Roger Myerson are co-recipients for their advancements on this theory.  Mechanism design has several practical applications to help predict how prior knowledge and self-interest affect outcomes in markets or social situations, such as voting.  In 1965, Hurwicz traveled to India as a visiting professor at Bangalore University thanks to a Fulbright grant.  He is currently professor emeritus in economics at the University of Minnesota, Twin Cities.  Hurwicz, at 90 years old, is the oldest person to receive a Noble Prize in any category.