Leonid Hurwicz Quotes

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 for his seminal work on mechanism design. Hurwicz was one of the oldest Nobel Laureates, having received the prize at the age of 90.

Hurwicz was educated and grew up in Poland, and became a refugee in the United States after Hitler invaded Poland in 1939. In 1941, Hurwicz worked as a research assistant for Paul Samuelson at the Massachusetts Institute of Technology and Oskar Lange at the University of Chicago. He was a research associate for the Cowles Commission between 1942 and 1946. In 1946 he became an associate professor of economics at Iowa State College. Hurwicz joined the University of Minnesota in 1951, becoming Curtis L. Carlson Regents Professor of Economics in 1989. He was Regents' Professor of Economics at the University of Minnesota when he died in 2008.

Hurwicz was among the first economists to recognize the value of game theory and was a pioneer in its application. Interactions of individuals and institutions, markets and trade are analyzed and understood today using the models Hurwicz developed.



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✵ 21. August 1917 – 24. June 2008
Leonid Hurwicz: 6   quotes 0   likes

Famous Leonid Hurwicz Quotes

“There were times when other people said I was on the short list, but as time passed and nothing happened, I didn’t expect the recognition would come because people who were familiar with my work were slowly dying off.”

Quoted in: William Grimes, " Leonid Hurwicz, Nobel Economist, Dies at 90 http://www.nytimes.com/2008/06/26/business/26hurwicz.html?_r=0" at nytimes.com, June 26, 2008.

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