The winners of the 2007 Nobel Memorial Prize in Economics, announced yesterday, are Leonid Hurwicz, Eric Maskin, and Roger Myerson. The three men received the prize for their work on "mechanism design ...

Two children are squabbling over how to divide a pie. We need a method to divide the pie fairly. Parents will already know one answer—one child cuts and the second child chooses. The second child will ...

Auction theory and mechanism design form a cornerstone of economic and computer science research, examining how individuals or entities bid for resources and ensuring that strategic interactions yield ...

NEW YORK — Three U.S. economists, one of them a 90-year-old professor emeritus from Minnesota, will share this year’s Nobel prize in economics for their work on how people’s knowledge and ...

The Nobel prize for economics has been awarded to three American academics, Leonid Hurwicz, Eric Maskin and Roger Myerson, for their work on mechanism design theory. Despite the abstruse sounding name ...

This year's Nobel Prize in Economics, awarded to a trio of academicians for their work in "mechanism design theory," has everything to do with the way media-related businesses must reinvent themselves ...

Subscribe for analysis that goes beyond the noise. I meant to link to this earlier, but over at TAP, the economist John Irons gave a wonderfully clear explanation of “mechanism design theory,” which ...