© The Nobel Foundation Photo: U. Montan
Roger B. Myerson
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2007
Born: 29 March 1951, Boston, MA, USA
Affiliation at the time of the award: University of Chicago, Chicago, IL, USA
Prize motivation: "for having laid the foundations of mechanism design theory."
Contribution: In the 1970s, the formulation of the "revelation principle" (a way of simplifying the search for a feasible mechanism) and implementation theory led to great advances of mechanism design. He developed this principle to perfection and pioneered its application to economic problems such as auctions and regulations.
Prize share: 1/3