Maurice Allais
| Maurice Allais | |
|---|---|
 |
|
| Born |
31 May 1911 Paris, France |
| Died | 9 October 2010 (aged 99) Saint-Cloud, near Paris, France |
| Nationality | French |
| Field |
Macroeconomics Behavioral economics |
| School or tradition |
Walrasian economics |
| Alma mater |
École Polytechnique École Nationale Supérieure des Mines de Paris University of Paris |
| Influences |
Léon Walras Irving Fisher Vilfredo Pareto |
| Influenced |
Gérard Debreu Edmond Malinvaud |
| Contributions |
Overlapping generations model golden rule of optimal growth Transaction demand for money rule Allais paradox |
| Awards | Nobel Prize in Economics (1988) |
| Information at IDEAS / RePEc | |
Maurice Félix Charles Allais (31 May 1911 – 9 October 2010) was a French economist, the 1988 winner of the Nobel Memorial Prize in Economics "for his pioneering contributions to the theory of markets and efficient utilization of resources".
Born in Paris, France, Allais attended the Lycée Lakanal, graduated from the École Polytechnique in Paris and studied at the École nationale supérieure des mines de Paris. His academic and other posts have included being Professor of Economics at the École Nationale Supérieure des Mines de Paris (since 1944) and Director of its Economic Analysis Centre (since 1946). In 1949, he received the title of doctor-engineer from the University of Paris, Faculty of Science. He also held teaching positions at various institutions, including at the University of Paris X-Nanterre, and the Graduate Institute of International and Development Studies in Geneva.
As an economist he made contributions to decision theory, monetary policy and other areas. He was reluctant to write in or translate his work into English, and many of his major contributions became known to the dominant English-speaking community only when they were independently rediscovered or popularized by English-speaking economists. For example, in one of his major works, Économie et Intérêt (1947), he introduced the first overlapping generations model (later popularized by Paul Samuelson in 1958), introduced the golden rule of optimal growth (later popularized by Edmund Phelps) and described the transaction demand for money rule (later found in William Baumol's work). He was also responsible for early work in Behavioral economics, which in the US is generally attributed to Daniel Kahneman and Amos Tversky.
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