Eric S. Maskin

AAA

DEFINITION of 'Eric S. Maskin'

An American professor of social science at the Institute for Advanced Study (IAS) who won the Nobel Prize in Economics in 2007, along with Leonid Hurwicz and Roger Myerson. Maskin's award-winning research deals with mechanism design theory, or incentive-compatible mechanisms. Born in 1950 in New York City, he holds a Ph.D. in applied math from Harvard. In addition to IAS, he has taught at Princeton, MIT and Harvard.

INVESTOPEDIA EXPLAINS 'Eric S. Maskin'

Mechanism design theory explores how institutions can achieve desirable social or economic goals given the constraints of individuals' self-interest and incomplete information. Additional areas of Maskin's research include game theory, incentives, contract theory, auction design, electoral rules, monetary policy and intellectual property.

RELATED TERMS
  1. Economist

    An expert who studies the relationship between a society's resources ...
  2. Dismal Science

    A term coined by Scottish writer, essayist and historian Thomas ...
  3. Intellectual Property

    A broad categorical description for the set of intangibles owned ...
  4. Microeconomics

    The branch of economics that analyzes the market behavior of ...
  5. Macroeconomics

    The field of economics that studies the behavior of the aggregate ...
  6. Monetary Policy

    The actions of a central bank, currency board or other regulatory ...
Related Articles
  1. Economics

    What Is Fiscal Policy?

    Learn how governments adjust taxes and spending to moderate the economy.
  2. Economics

    How Much Influence Does The Fed Have?

    Find out how current financial policies may affect your portfolio's future returns.
  3. Economics

    Monetarism: Printing Money To Curb Inflation

    Learn how Milton Friedman's monetarist views shaped economic policy after World War II.
  4. Personal Finance

    How The U.S. Government Formulates Monetary Policy

    Learn about the tools the Fed uses to influence interest rates and general economic conditions.
  5. Professionals

    Understanding Interpersonal Skills

    Interpersonal skills are the social skills people use to interact effectively with other people. A lack of good interpersonal skills may lead to unsuccessful personal relationships, as well as ...
  6. Investing News

    The 5 Wealthiest People in Mexico

    Most people in the know have heard of Carlos Slim and his massive fortune. But what about Mexico's other richest people?
  7. Entrepreneurship

    The Most Successful App Companies

    The rapidly expanding mobile-app industry is worth billions of dollars. Its growth has led to huge success for some firms and very little for many more.
  8. Investing Basics

    Undervalued Franchises: The Best Choice?

    Searching for an undervalued franchise? Here's a quick guide to what's hot and what's a good bet.
  9. Fundamental Analysis

    What are the most common issues with Serial Correlation in stocks?

    Read about the concept of serial correlation in stock returns, and learn why market analysts are divided about the efficacy of trading based on stock patterns.
  10. Entrepreneurship

    How do people make money on the videos they upload to YouTube?

    Learn about the primary ways that people can generate income based on the videos they upload to YouTube, including advertising and product placement.

You May Also Like

Hot Definitions
  1. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
  2. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
  3. Federal Funds Rate

    The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution ...
  4. Fixed Asset

    A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be ...
  5. Break-Even Analysis

    An analysis to determine the point at which revenue received equals the costs associated with receiving the revenue. Break-even ...
  6. Key Performance Indicators - KPI

    A set of quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their ...
Trading Center