Game Theory in an Economic Maelstrom
"The way he taught us to think has changed the world."
On October 15, U of M Regents Professor Emeritus Leonid Hurwicz won the Nobel Prize in economics for pioneering work in a branch of game theory known as mechanism design. While highly abstract and mathematical, mechanism design theory has concrete applications in the real world, affecting transactions ranging from auctions to elections.
On December 6, Varadarajan V. Chari, economic adviser for the Federal Reserve Bank, U of M economics professor, and colleague of Dr. Hurwicz, discussed the significance of Hurwicz's groundbreaking theory and the current volatile state of the economy.
On October 15, U of M Regents Professor Emeritus Leonid Hurwicz won the Nobel Prize in economics for pioneering work in a branch of game theory known as mechanism design. While highly abstract and mathematical, mechanism design theory has concrete applications in the real world, affecting transactions ranging from auctions to elections.
On December 6, Varadarajan V. Chari, economic adviser for the Federal Reserve Bank, U of M economics professor, and colleague of Dr. Hurwicz, discussed the significance of Hurwicz's groundbreaking theory and the current volatile state of the economy.