Three Americans are sharing the Nobel prize in economics.

The Nobel prize for the economy was granted to three Americans: Leonid Hurwicz, Eric Maskin and Roger Myerson. That was mentioned by the Nobel committee today. They are all high-powered theorists, doing incentives, mechanism design, and social choice theory. The theory where they were awarded to, proceed with the design of economic institutions. "she allows to separate the situations in which the market works well and in which the market works badly". Hurwicz worked on the basis for the theory. Maskin and Myerson, have further reinforced the theory. Maskin and Myerson are professors in social sciences.
They received the price which is almost 1.1 million euros worth. The Nobel prize for the economy has been distributed since 1969. More than two thirds of the ex-winners came from the United States.

I am not wondered that those three Americans win the award in this period, because they do something with the problems that there are now in the American economy. Mechanism design is very much in style, it is one of economic's rare success stories ever. I'm not such smart enough to understand it, ( It is very difficult ) but the insights of these guys have been used extensively in a lot applied setting, e.g. auction design.

Benjamin Benoit

http://www.demorgen.be/dm/nl/nieuws/buitenland/618857