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Roger Myerson

August 22, 2023

Roger Bruce Myerson (born March 29, 1951) is an American economist and professor at the University of Chicago. He holds the title of the David L. Pearson Distinguished Service Professor of Global Conflict Studies at The Pearson Institute for the Study and Resolution of Global Conflicts in the Harris School of Public Policy, the Griffin Department of Economics, and the college.[1] Previously, he held the title The Glen A. Lloyd Distinguished Service Professor of Economics.[2] In 2007, he was the winner of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel with Leonid Hurwicz and Eric Maskin for "having laid the foundations of mechanism design theory."[3] He was elected a Member of the American Philosophical Society in 2019.[4]

Roger Myerson
Born (1951-03-29) March 29, 1951 (age 72)
Boston, Massachusetts, US
Academic career
InstitutionUniversity of Chicago
Northwestern University
FieldGame theory
Alma materHarvard University (AB, SM, PhD)
Doctoral
advisor		Kenneth Arrow
Doctoral
students		Scott E. Page
Leonard Wantchekon
ContributionsMechanism design
AwardsNobel Memorial Prize in Economic Sciences (2007)
Information at IDEAS / RePEc

Biography

Roger Myerson was born in 1951 in Boston into a Jewish[5] family. He attended Harvard University, where he received his A.B., summa cum laude, and S.M. in applied mathematics in 1973. He completed his Ph.D. in applied mathematics from Harvard University in 1976.[6] His doctorate thesis was A Theory of Cooperative Games.[7]

From 1976 to 2001, Myerson was a professor of economics at Northwestern University's Kellogg School of Management, where he conducted much of his Nobel-winning research.[8] From 1978 to 1979, he was visiting researcher at Bielefeld University. He was visiting professor of economics at the University of Chicago from 1985 to 1986 and from 2000 to 2001. He became professor of economics at Chicago in 2001. Currently, he is the inaugural David L. Pearson Distinguished Service Professor of Global Conflict Studies at the University of Chicago.[9]

Awards and honors

Bank of Sweden Nobel Memorial Prize

Myerson was one of the three winners of the 2007 Nobel Memorial Prize in Economic Sciences, the other two being Leonid Hurwicz of the University of Minnesota, and Eric Maskin of the Institute for Advanced Study. He was awarded the prize for his contributions to mechanism design theory.[10]

Myerson made a path-breaking contribution to mechanism design theory when he discovered a fundamental connection between the allocation to be implemented and the monetary transfers needed to induce informed agents to reveal their information truthfully. Mechanism design theory allows for people to distinguish situations in which markets work well from those in which they do not. The theory has helped economists identify efficient trading mechanisms, regulation schemes, and voting procedures. Today, the theory plays a central role in many areas of economics and parts of political science.[10]

Memberships and honors

Myerson is a member of the American Academy of Arts and Sciences, the National Academy of Sciences, the Council on Foreign Relations, and the American Philosophical Society.[7] He is a Fellow of the Game Theory Society[11] and serves as an advisory board member on the International Journal of Game Theory.[12] Myerson holds an honorary doctorate from the University of Basel in 2002 [13] and received the Jean-Jacques Laffont Prize in 2009.[14] He also served on the Social Sciences jury for the Infosys Prize in 2016.

Personal life

In 1980, Myerson married Regina (née Weber) and the couple had two children, Daniel and Rebecca.[15] His daughter, Rebecca, is a health economist at the University of Wisconsin-Madison.[16]

Publications

Game theory and mechanism design
  • Myerson, Roger B. (August 1977). "Graphs and Cooperation in Games" (PDF). Mathematics of Operations Research. 2 (3): 225–229. doi:10.1287/moor.2.3.225. hdl:10419/220606.
  • Myerson, Roger B. (October 1977). "Two-Person Bargaining Problems and Comparable Utility" (PDF). Econometrica. 45 (7): 1631–1637. doi:10.2307/1913955. JSTOR 1913955.
  • Myerson, R. B. (June 1978). "Refinements of the Nash Equilibrium Concept" (PDF). International Journal of Game Theory. 7 (2): 73–80. doi:10.1007/BF01753236. S2CID 222358176.
  • Myerson, Roger B. (January 1979). "Incentive Compatibility and the Bargaining Problem". Econometrica. 47 (1): 61–73. doi:10.2307/1912346. JSTOR 1912346.
  • Myerson, Roger B. (February 1981). "Optimal Auction Design". Mathematics of Operations Research. 6 (1): 58–73. doi:10.1287/moor.6.1.58. S2CID 12282691.
  • Myerson, Roger B. (November 1983). "Mechanism Design by an Informed Principal" (PDF). Econometrica. 51 (6): 1767–1797. doi:10.2307/1912116. JSTOR 1912116.
  • Myerson, Roger B. (1984). "Two-Person Bargaining Problems with Incomplete Information". Econometrica. 52 (2): 461–487. doi:10.2307/1911499. JSTOR 1911499.
  • "Bayesian Equilibrium and Incentive Compatibility," in Hurwicz, Leonid; Schmeidler, David; Sonnenschein, Hugo, eds. (2005). Social goals and social organization : essays in memory of Elisha Pazner. Cambridge New York: Cambridge University Press. pp. 229–259. ISBN 9780521023955.

He wrote a general textbook on game theory in 1991, and has also written on the history of game theory, including his review of the origins and significance of noncooperative game theory.[17] He also served on the editorial board of the International Journal of Game Theory for ten years.

Myerson has worked on economic analysis of political institutions and written several major survey papers:

  • Myerson, Roger B. (Winter 1995). "Analysis of Democratic Institutions: Structure, Conduct, and Performance". Journal of Economic Perspectives. 9 (1): 77–89. doi:10.1257/jep.9.1.77. JSTOR 2138356.
  • "Economic Analysis of Political Institutions: An Introduction," Advances in Economic Theory and Econometrics: Theory and Applications, volume 1, edited by D. Kreps and K. Wallis (Cambridge University Press, 1997), pages 46–65.
  • Myerson, Roger B. (April 1999). "Theoretical Comparisons of Electoral Systems". European Economic Review. 43 (4–6): 671–697. CiteSeerX 10.1.1.21.9735. doi:10.1016/S0014-2921(98)00089-0.
  • Myerson, R. B. (Winter 2022–2023). "Stabilization Lessons from the British Empire". Texas National Security Review. 6 (1). Retrieved 5 December 2022.{{cite journal}}: CS1 maint: date format (link)


His recent work on democratization has raised critical questions about American policy in occupied Iraq:


Books
  • Game theory: analysis of conflict. Cambridge, Massachusetts: Harvard University Press. 1991. ISBN 9780674728615.
  • Probability models for economic decisions. Belmont, CA: Thomson/Brooke/Cole. 2005. ISBN 9780534423810.

Concepts named after him

See also

References

  1. ^ "Roger Myerson Pearson Institute Faculty Profile".
  2. ^ "Prof. Myerson's University of Chicago Department of Economics Profile".
  3. ^ "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2007" (Press release). Nobel Foundation. October 15, 2007. Retrieved 2008-08-15.
  4. ^ "APS Announces 2019 Class of New Members".
  5. ^ "Jewish Nobel Prize laureates - Economics". www.science.co.il. Retrieved 2023-03-28.
  6. ^ "Front & Center with John Callaway: The Global Economic Crisis | Pritzker Military Museum & Library | Chicago".
  7. ^ a b "Curriculum Vitae of Roger Myerson" (PDF). Retrieved 2008-08-15.
  8. ^ JUF News: Nobel Prize winners have Jewish, Chicago connections
  9. ^ "Roger Myerson appointed inaugural David L. Pearson Distinguished Service Professor". Retrieved 2019-12-23.
  10. ^ a b "Roger Myerson wins 2007 Nobel Memorial Prize in Economics". University of Chicago. 2007-10-17. Retrieved 2008-08-16.
  11. ^ "Game Theory Society - People".
  12. ^ "International Journal of Game Theory Editors".
  13. ^ "Honorary Awards Faculty of Business and Economics".
  14. ^ "Jean Jacques Laffont Prize Former Laureates". 5 June 2018.
  15. ^ Roger B. Myerson on Nobelprize.org  , accessed 11 October 2020
  16. ^ "Myerson, Rebecca". 28 August 2019.
  17. ^ Myerson, Roger B. (1999). "Nash Equilibrium and the History of Economic Theory". Journal of Economic Literature. 37 (3): 1067–1082. CiteSeerX 10.1.1.130.7955. doi:10.1257/jel.37.3.1067. JSTOR 2564872.

External links

  • Roger B. Myerson on Nobelprize.org   including the Nobel Lecture Perspectives on Mechanism Design in Economic Theory
  • Webpage at the University of Chicago
  • ABC News Chicago interview
  • Roger Myerson at the Mathematics Genealogy Project
  • Myerson participated in panel discussion, The Global Economic Crisis: What Does It Mean for U.S. National Security? at the Pritzker Military Museum & Library on April 2, 2009

August 22, 2023
roger, myerson, roger, bruce, myerson, born, march, 1951, american, economist, professor, university, chicago, holds, title, david, pearson, distinguished, service, professor, global, conflict, studies, pearson, institute, study, resolution, global, conflicts,. Roger Bruce Myerson born March 29 1951 is an American economist and professor at the University of Chicago He holds the title of the David L Pearson Distinguished Service Professor of Global Conflict Studies at The Pearson Institute for the Study and Resolution of Global Conflicts in the Harris School of Public Policy the Griffin Department of Economics and the college 1 Previously he held the title The Glen A Lloyd Distinguished Service Professor of Economics 2 In 2007 he was the winner of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel with Leonid Hurwicz and Eric Maskin for having laid the foundations of mechanism design theory 3 He was elected a Member of the American Philosophical Society in 2019 4 Roger MyersonBorn 1951 03 29 March 29 1951 age 72 Boston Massachusetts USAcademic careerInstitutionUniversity of ChicagoNorthwestern UniversityFieldGame theoryAlma materHarvard University AB SM PhD DoctoraladvisorKenneth ArrowDoctoralstudentsScott E Page Leonard WantchekonContributionsMechanism designAwardsNobel Memorial Prize in Economic Sciences 2007 Information at IDEAS RePEc Contents 1 Biography 2 Awards and honors 2 1 Bank of Sweden Nobel Memorial Prize 2 2 Memberships and honors 3 Personal life 4 Publications 5 Concepts named after him 6 See also 7 References 8 External linksBiography EditRoger Myerson was born in 1951 in Boston into a Jewish 5 family He attended Harvard University where he received his A B summa cum laude and S M in applied mathematics in 1973 He completed his Ph D in applied mathematics from Harvard University in 1976 6 His doctorate thesis was A Theory of Cooperative Games 7 From 1976 to 2001 Myerson was a professor of economics at Northwestern University s Kellogg School of Management where he conducted much of his Nobel winning research 8 From 1978 to 1979 he was visiting researcher at Bielefeld University He was visiting professor of economics at the University of Chicago from 1985 to 1986 and from 2000 to 2001 He became professor of economics at Chicago in 2001 Currently he is the inaugural David L Pearson Distinguished Service Professor of Global Conflict Studies at the University of Chicago 9 Awards and honors EditBank of Sweden Nobel Memorial Prize Edit Myerson was one of the three winners of the 2007 Nobel Memorial Prize in Economic Sciences the other two being Leonid Hurwicz of the University of Minnesota and Eric Maskin of the Institute for Advanced Study He was awarded the prize for his contributions to mechanism design theory 10 Myerson made a path breaking contribution to mechanism design theory when he discovered a fundamental connection between the allocation to be implemented and the monetary transfers needed to induce informed agents to reveal their information truthfully Mechanism design theory allows for people to distinguish situations in which markets work well from those in which they do not The theory has helped economists identify efficient trading mechanisms regulation schemes and voting procedures Today the theory plays a central role in many areas of economics and parts of political science 10 Memberships and honors Edit Myerson is a member of the American Academy of Arts and Sciences the National Academy of Sciences the Council on Foreign Relations and the American Philosophical Society 7 He is a Fellow of the Game Theory Society 11 and serves as an advisory board member on the International Journal of Game Theory 12 Myerson holds an honorary doctorate from the University of Basel in 2002 13 and received the Jean Jacques Laffont Prize in 2009 14 He also served on the Social Sciences jury for the Infosys Prize in 2016 Personal life EditIn 1980 Myerson married Regina nee Weber and the couple had two children Daniel and Rebecca 15 His daughter Rebecca is a health economist at the University of Wisconsin Madison 16 Publications EditGame theory and mechanism designMyerson Roger B August 1977 Graphs and Cooperation in Games PDF Mathematics of Operations Research 2 3 225 229 doi 10 1287 moor 2 3 225 hdl 10419 220606 Myerson Roger B October 1977 Two Person Bargaining Problems and Comparable Utility PDF Econometrica 45 7 1631 1637 doi 10 2307 1913955 JSTOR 1913955 Myerson R B June 1978 Refinements of the Nash Equilibrium Concept PDF International Journal of Game Theory 7 2 73 80 doi 10 1007 BF01753236 S2CID 222358176 Myerson Roger B January 1979 Incentive Compatibility and the Bargaining Problem Econometrica 47 1 61 73 doi 10 2307 1912346 JSTOR 1912346 Myerson Roger B February 1981 Optimal Auction Design Mathematics of Operations Research 6 1 58 73 doi 10 1287 moor 6 1 58 S2CID 12282691 Myerson Roger B November 1983 Mechanism Design by an Informed Principal PDF Econometrica 51 6 1767 1797 doi 10 2307 1912116 JSTOR 1912116 Myerson Roger B 1984 Two Person Bargaining Problems with Incomplete Information Econometrica 52 2 461 487 doi 10 2307 1911499 JSTOR 1911499 Bayesian Equilibrium and Incentive Compatibility in Hurwicz Leonid Schmeidler David Sonnenschein Hugo eds 2005 Social goals and social organization essays in memory of Elisha Pazner Cambridge New York Cambridge University Press pp 229 259 ISBN 9780521023955 He wrote a general textbook on game theory in 1991 and has also written on the history of game theory including his review of the origins and significance of noncooperative game theory 17 He also served on the editorial board of the International Journal of Game Theory for ten years Myerson has worked on economic analysis of political institutions and written several major survey papers Myerson Roger B Winter 1995 Analysis of Democratic Institutions Structure Conduct and Performance Journal of Economic Perspectives 9 1 77 89 doi 10 1257 jep 9 1 77 JSTOR 2138356 Economic Analysis of Political Institutions An Introduction Advances in Economic Theory and Econometrics Theory and Applications volume 1 edited by D Kreps and K Wallis Cambridge University Press 1997 pages 46 65 Myerson Roger B April 1999 Theoretical Comparisons of Electoral Systems European Economic Review 43 4 6 671 697 CiteSeerX 10 1 1 21 9735 doi 10 1016 S0014 2921 98 00089 0 Myerson R B Winter 2022 2023 Stabilization Lessons from the British Empire Texas National Security Review 6 1 Retrieved 5 December 2022 a href Template Cite journal html title Template Cite journal cite journal a CS1 maint date format link His recent work on democratization has raised critical questions about American policy in occupied Iraq Myerson Roger B June 2013 Fundamentals of social choice theory Quarterly Journal of Political Science 8 3 305 337 CiteSeerX 10 1 1 297 6781 doi 10 1561 100 00013006 BooksGame theory analysis of conflict Cambridge Massachusetts Harvard University Press 1991 ISBN 9780674728615 Probability models for economic decisions Belmont CA Thomson Brooke Cole 2005 ISBN 9780534423810 Concepts named after him EditMyerson Satterthwaite theorem Myerson mechanism Myerson ironingSee also EditList of economists List of Jewish Nobel laureatesReferences Edit Roger Myerson Pearson Institute Faculty Profile Prof Myerson s University of Chicago Department of Economics Profile The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2007 Press release Nobel Foundation October 15 2007 Retrieved 2008 08 15 APS Announces 2019 Class of New Members Jewish Nobel Prize laureates Economics www science co il Retrieved 2023 03 28 Front amp Center with John Callaway The Global Economic Crisis Pritzker Military Museum amp Library Chicago a b Curriculum Vitae of Roger Myerson PDF Retrieved 2008 08 15 JUF News Nobel Prize winners have Jewish Chicago connections Roger Myerson appointed inaugural David L Pearson Distinguished Service Professor Retrieved 2019 12 23 a b Roger Myerson wins 2007 Nobel Memorial Prize in Economics University of Chicago 2007 10 17 Retrieved 2008 08 16 Game Theory Society People International Journal of Game Theory Editors Honorary Awards Faculty of Business and Economics Jean Jacques Laffont Prize Former Laureates 5 June 2018 Roger B Myerson on Nobelprize org accessed 11 October 2020 Myerson Rebecca 28 August 2019 Myerson Roger B 1999 Nash Equilibrium and the History of Economic Theory Journal of Economic Literature 37 3 1067 1082 CiteSeerX 10 1 1 130 7955 doi 10 1257 jel 37 3 1067 JSTOR 2564872 External links EditRoger B Myerson on Nobelprize org including the Nobel Lecture Perspectives on Mechanism Design in Economic Theory Webpage at the University of Chicago ABC News Chicago interview Roger Myerson at the Mathematics Genealogy Project The scientific background to the 2007 Nobel prize Mechanism Design Theory Myerson participated in panel discussion The Global Economic Crisis What Does It Mean for U S National Security at the Pritzker Military Museum amp Library on April 2 2009AwardsPreceded byEdmund S Phelps Laureate of the Nobel Memorial Prize in Economics2007 Served alongside Leonid Hurwicz Eric S Maskin Succeeded byPaul Krugman Retrieved from https en wikipedia org w index php title Roger Myerson amp oldid 1159493746, wikipedia, wiki, book, books, library,

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