Institute for Advanced Study
Massachusetts Institute of Technology
University of Cambridge
|Alma mater||Harvard University|
Robert W. Vishny
David S. Scharfstein
|Awards||Nobel Memorial Prize (2007)|
|Information at IDEAS / RePEc|
Eric Stark Maskin (born December 12, 1950) is an American economist and 2007 Nobel laureate recognized with Leonid Hurwicz and Roger Myerson "for having laid the foundations of mechanism design theory". He is the Adams University Professor and Professor of Economics and Mathematics at Harvard University.
Early life and education
Maskin was born in New York City on December 12, 1950, into a Jewish family, and spent his youth in Alpine, New Jersey. He graduated from Tenafly High School in Tenafly, New Jersey, in 1968. In 1972, he graduated with A.B. in mathematics from Harvard College, the undergraduate liberal arts college of Harvard University. In 1974, he earned A.M. in applied mathematics and in 1976 earned a Ph.D. in applied mathematics, both at Harvard University. In 1975-76, he was a visiting student at Darwin College, Cambridge University.
Career and topics
In 1976, after earning his doctorate, Maskin became a research fellow at Jesus College, Cambridge University. In the following year, he joined the faculty at Massachusetts Institute of Technology. In 1985 he returned to Harvard as the Louis Berkman Professor of Economics, where he remained until 2000. That year, he moved to the Institute for Advanced Study in Princeton, New Jersey. In addition to his position at the Princeton Institute, Maskin is the director of the Jerusalem Summer School in Economic Theory at The Institute for Advanced Studies at The Hebrew University of Jerusalem. In 2010, he was conferred an honorary doctoral degree in economics from The University of Cambodia. In 2011, Maskin returned to Harvard as the Adams University Professor and professor of economics and mathematics.
Maskin has worked in diverse areas of economic theory, such as game theory, the economics of incentives, and contract theory. He is particularly known for his papers on mechanism design/implementation theory and dynamic games. With Jean Tirole, he advanced the concept of Markov perfect equilibrium. His research projects include comparing different electoral rules, examining the causes of inequality, and studying coalition formation.
Maskin is a Fellow of the American Academy of Arts and Sciences, Econometric Society, and the European Economic Association, and a Corresponding Fellow of the British Academy. He was president of the Econometric Society in 2003.
Maskin suggested that software patents inhibit innovation rather than stimulate progress. Software, semiconductor, and computer industries have been innovative despite historically weak patent protection, he argued. Innovation in those industries has been sequential and complementary, so competition can increase firms' future profits. In such a dynamic industry, "patent protection may reduce overall innovation and social welfare". A natural experiment occurred in the 1980s when patent protection was extended to software", wrote Maskin with co-author James Bessen. "Standard arguments would predict that R&D intensity and productivity should have increased among patenting firms. Consistent with our model, however, these increases did not occur". Other evidence supporting this model includes a distinctive pattern of cross-licensing and a positive relationship between rates of innovation and firm entry.
- Fudenberg, Drew (1981), Strategic behavior in economic rivalry. Ph.D. dissertation, Massachusetts Institute of Technology.
- Vishny, Robert W. (1985). Informational aspects of securities markets (Ph.D.). MIT. Retrieved April 5, 2018.
- "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2007" (Press release). Nobel Foundation. October 15, 2007. Retrieved 2008-08-15.
- Economics professor wins Nobel – The Daily Princetonian Archived October 17, 2007, at the Wayback Machine
- Minutes of Library Board Meeting Archived 2008-06-26 at the Wayback Machine, Tenafly Public Library, dated October 15, 2007. Accessed January 22, 2008.
- "The 23rd Jerusalem School in Economic Theory - Intertemporal Public Economics | the Institute for Advanced Studies".
- "Welcome to The University of Cambodia (UC)". uc.edu.kh. Retrieved 2018-05-07.
- Gautam S. Kumar and Julia L. Ryan. Economics Nobel Laureate Eric Maskin Returning to Harvard. Harvard Crimson, Oct 25 2011
- "Eric Stark Maskin". American Academy of Arts & Sciences. Retrieved 2021-03-24.
- "Fellows | The Econometric Society". www.econometricsociety.org. Retrieved 2021-03-24.
- "Fellows | EEA". www.eeassoc.org. Retrieved 2021-03-24.
- "Professor Eric Maskin FBA". The British Academy. Retrieved 2021-03-24.
- "Past Presidents | The Econometric Society". www.econometricsociety.org. Retrieved 2021-03-24.
- Alabi, Mojeed (16 July 2014). "Nobel laureate joins Covenant varsity". New Telegraph. Lagos, Nigeria. Archived from the original on 11 August 2014.
- Paris, HEC. "Nobel Prize Eric MASKIN Conference on "Improving French and American presidential elections"". HEC Paris. Retrieved 2018-04-02.
- "HEC PARIS HONORIS CAUSA PROFESSOR 2017 REWARDS LIFELONG WORK OF NOBEL LAUREATE ERIC MASKIN". HEC Paris. Oct 12, 2017. Retrieved 10 November 2019.
- Bessen, J.; Maskin, E. (2009). "Sequential innovation, patents, and imitation" (PDF). The RAND Journal of Economics. 40 (4): 611. doi:10.1111/j.1756-2171.2009.00081.x.
|Wikiquote has quotations related to: Eric Maskin|
- Eric S. Maskin on Nobelprize.org including the Nobel prize Lecture Mechanism Design: How to Implement Social Goals
- Profile in The Daily Princetonian
- Videos of Eric Maskin
- Maskin, Eric (8 December 2007). Nobel Prize Lecture. Aula Magna, Stockholm University: Nobel Media AB.
- Maskin, Eric (January 2008). Mechanism Design: How to Implement Social Goals. University of California, Irvine School of Social Sciences.
- Maskin, Eric (23 December 2013). Mechanism Design. Serious Science.
- Maskin, Eric (1 June 2014). An Introduction to Mechanism Design. Warwick Economics Summit. Maskin giving a keynote address on 'How to Make the Right Decisions without knowing People's Preferences'
- Maskin, Eric (24 June 2015). Introduction to Repeated Games. 26th Jerusalem Summer School on Economics Theory.CS1 maint: location (link)