Economic Nobel Prize 2007: The trio of Americans won glory

Americans once again proved almost absolute dominance in economics at Nobel laureates. Yesterday, the Royal Swedish Academy of Sciences announced that the 2007 Nobel Prize in economics belonged to three researchers of American nationality Leonid Hurwicz, Eric Maskin and Roger Myerson.

On nobel.org website, the award committee said the three researchers built the foundation of "mechanism design theory", a theory that helps determine when the market operates effectively. This is considered a theory that plays a central role in contemporary economics and political science.

The AP news agency reported that since 1960, three researchers, starting with Mr. Hurwicz, have been studying the use of game theory with probability and statistics to help determine the most efficient method of resource allocation."Mechanism design theory has increased our understanding of optimal resource distribution mechanisms," said the Royal Swedish Academy of Sciences. Their research has helped economists, governments and businesses "distinguish situations in which markets operate effectively and reverse situations".

According to Reuters, at age 90, researcher Hurwicz has become the oldest Nobel laureate ever. He was of Russian descent, born in Moscow and was appointed an honorary professor at the University of Minnesota."I did not expect this honor - Mr. Hurwicz confided when he learned he won the prize - Many times people once said I was in the candidate list, but time passed. I thought I would not The winners can be passed away by people who are familiar with my theory. "

Mr. Maskin, 57, is a professor at the Institute of Advanced Studies in Princeton (New Jersey), and Mr. Myerson, 56, is a professor at the University of Chicago. They both received Harvard doctorate in mathematics in 1976. Mr. Maskin affirmed to be glad to know Mr. Hurwicz won the prize and "it is an honor to share the prize with him (Hurwicz) and Mr. Myerson ".

This is the 29th time that US researchers have won the Nobel Prize in economics since the award was first awarded in 1969, an unrivaled advantage. In total, 39 Americans won this great honor.

HIEU TRUNG