Leonid Hurwicz
| Leonid Hurwicz | |
|---|---|
 |
|
| Born |
August 21, 1917 Moscow, Russian Republic |
| Died | June 24, 2008 (aged 90) Minneapolis, Minnesota, United States |
| Nationality | Polish |
| Citizenship | American |
| Institution |
University of Minnesota Iowa State University |
| Alma mater |
University of Warsaw Graduate Institute of International Studies London School of Economics |
| Doctoral students |
Clifford Hildreth Stanley Reiter Daniel McFadden Paruchuri Krishnaiah Xavier Calsamiglia Leigh Tesfatsion Shomu Banerjee |
| Influences |
Tjalling Koopmans Jacob Marschak |
| Contributions | Mechanism design |
| Awards |
National Medal of Science (1990) Nobel Memorial Prize (2007) |
| Information at IDEAS / RePEc | |
Leonid "Leo" Hurwicz (August 21, 1917 – June 24, 2008) was a Polish economist and mathematician active in the United States. He originated incentive compatibility and mechanism design, which show how desired outcomes are achieved in economics, social science and political science. Interactions of individuals and institutions, markets and trade are analyzed and understood today using the models Hurwicz developed. To date, Leonid Hurwicz is the oldest Nobel Laureate, having received the prize at the age of 90.
Hurwicz was Regents' Professor of Economics (Emeritus) at the University of Minnesota. He was among the first economists to recognize the value of game theory and was a pioneer in its application. Hurwicz shared the 2007 Nobel Memorial Prize in Economic Sciences with Eric Maskin and Roger Myerson for their work on mechanism design.
Hurwicz was born in Moscow, Russia, to a family of Polish Jews a few months before the October Revolution. Soon after Leonid's birth, the family returned to Warsaw. Hurwicz and his family experienced persecution by both the Bolsheviks and Nazis, as he again became a refugee when Hitler invaded Poland in 1939. His parents and brother fled Warsaw, only to be arrested and sent to Soviet labor camps. Hurwicz, who had graduated from Warsaw University in 1938, at the time of Nazi invasion on Poland was in London, moved to Switzerland then to Portugal and finally in 1940 he emigrated to the United States. His family eventually joined him there.
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