News of the WeekNobel Prizes

Three Economists Lauded for Theory That Helps the Invisible Hand

+ See all authors and affiliations

Science  19 Oct 2007:
Vol. 318, Issue 5849, pp. 375
DOI: 10.1126/science.318.5849.375a

You are currently viewing the summary.

View Full Text


Leonid Hurwicz, Eric Maskin, and Roger Myerson have won this year's Nobel Prize in economics for developing "mechanism design theory," which aims to find schemes, or "mechanisms," that ensure that acting in self-interest will lead to benefits for all.