Leonid Hurwicz

Leonid Hurwicz (August 21, 1917 – June 24, 2008) was a Polish–American economist and mathematician, known for his work in game theory and mechanism design. He originated the concept of incentive compatibility, and showed how desired outcomes can be achieved by using incentive compatible mechanism design. Hurwicz shared the 2007 Nobel Memorial Prize in Economic Sciences (with Eric Maskin and Roger Myerson) for his seminal work on mechanism design. Hurwicz was one of the oldest Nobel Laureates, having received the prize at the age of 90.

Hurwicz was educated and grew up in Poland, and became a refugee in the United States after Hitler invaded Poland in 1939. In 1941, Hurwicz worked as a research assistant for Paul Samuelson at the Massachusetts Institute of Technology and Oskar Lange at the University of Chicago. He was a research associate for the Cowles Commission between 1942 and 1946. In 1946 he became an associate professor of economics at Iowa State College. Hurwicz joined the University of Minnesota in 1951, becoming Regents' Professor of Economics in 1969, and Curtis L. Carlson Professor of Economics in 1989. He was Regents' Professor of Economics (Emeritus) at the University of Minnesota when he died in 2008.

Hurwicz was among the first economists to recognize the value of game theory and was a pioneer in its application. Interactions of individuals and institutions, markets and trade are analyzed and understood today using the models Hurwicz developed.

Hurwicz received a Guggenheim Fellowship in 1945–1946. In 1946 he became an associate professor of economics at Iowa State College. From January 1942 until June 1946, he was a research associate for the Cowles Commission. Joining full-time in October 1950 until January 1951, he was a visiting professor, assuming Koopmans' classes in the Department of Economics, and led the commission's research on theory of resource allocation. He was also a research professor of economics and mathematical statistics at the University of Illinois, a consultant to the RAND Corporation through the University of Chicago and a consultant to the U.S. Bureau of the Budget. Hurwicz continued to be a consultant to the Cowles Commission until about 1961.

Source: Wikipedia

The book, Leonid Hurwicz: Intelligent Designer - How War and the Great Depression Inspired a Nobel Economist by Michael Hurwicz is available in the Cowles Library, located on the lower level of 30 Hillhouse Ave, Room C44.

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