Roger Myerson facts for kids
Quick facts for kids
Roger Myerson
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Myerson in 2008
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| Born | March 29, 1951 Boston, Massachusetts, US
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| Institution | University of Chicago Northwestern University |
| Field | Game theory |
| Alma mater | Harvard University (AB, SM, PhD) |
| Doctoral advisor |
Kenneth Arrow |
| Doctoral students |
Scott E. Page Leonard Wantchekon |
| Contributions | Mechanism design, Myerson–Satterthwaite theorem, Myerson value |
| Awards | Nobel Memorial Prize in Economic Sciences (2007) |
| Information at IDEAS / RePEc | |
Roger Bruce Myerson, born on March 29, 1951, is an American economist. He is a professor at the University of Chicago. He teaches about global conflicts and economics. In 2007, he won the Nobel Memorial Prize in Economic Sciences. He shared this important award with Leonid Hurwicz and Eric Maskin. They won for their work on something called "mechanism design theory." This theory helps us understand how people make decisions and how markets work.
Contents
Roger Myerson's Early Life and Education
Roger Myerson was born in 1951 in Boston, Massachusetts. He grew up in a Jewish family. He went to Harvard University for his college studies. In 1973, he earned two degrees in applied mathematics. These were his Bachelor of Arts (A.B.) and Master of Science (S.M.) degrees. He finished his Ph.D. (Doctor of Philosophy) in applied mathematics in 1976. His Ph.D. paper was about "A Theory of Cooperative Games."
Roger Myerson's Career as a Professor
From 1976 to 2001, Professor Myerson taught economics. He was a professor at Northwestern University's Kellogg School of Management. Much of his Nobel Prize-winning research happened during this time. He also visited Bielefeld University as a researcher from 1978 to 1979. He was a visiting professor at the University of Chicago twice. This was from 1985 to 1986 and again from 2000 to 2001. In 2001, he officially became an economics professor at the University of Chicago. Today, he is a special professor of Global Conflict Studies there.
Awards and Honors
Winning the Nobel Memorial Prize
Roger Myerson was one of three winners of the 2007 Nobel Memorial Prize in Economic Sciences. The other winners were Leonid Hurwicz and Eric Maskin. They received the prize for their work on mechanism design theory.
Professor Myerson made a big discovery in this field. He found a key link between how things are shared and how money needs to be moved. This helps people tell the truth about what they know. Mechanism design theory helps economists understand when markets work well. It also shows when they do not work as they should. This theory has helped create better ways to trade, set rules, and even vote. Today, it is very important in many areas of economics and political science.
Other Memberships and Honors
Professor Myerson is a member of several important groups. These include the American Academy of Arts and Sciences and the National Academy of Sciences. He is also part of the Council on Foreign Relations. He is a Fellow of the Game Theory Society. He helps advise the International Journal of Game Theory. In 2002, he received an honorary doctorate from the University of Basel. He also won the Jean-Jacques Laffont Prize in 2009.
Personal Life
In 1980, Roger Myerson married Regina Weber. They have two children, Daniel and Rebecca. His daughter, Rebecca, is also an economist. She studies health economics at the University of Wisconsin-Madison.
Political Views
In June 2024, Roger Myerson joined 15 other Nobel Prize winners in economics. They signed an open letter about the economy. They were concerned that certain policies could cause prices to rise too much. They worried about policies that might limit the independence of the Federal Reserve.
Concepts Named After Roger Myerson
- Myerson–Satterthwaite theorem
- Myerson mechanism
- Myerson ironing
See also
In Spanish: Roger B. Myerson para niños
- List of economists
- List of Jewish Nobel laureates
