Photo: #A chart from University of Minnesota professor emeritus and 2007 Nobel Prize-winning economist Leonid Hurwicz's 1945 article "The Theory of Economic Behavior."
Larger view
A chart from University of Minnesota professor emeritus and 2007 Nobel Prize-winning economist Leonid Hurwicz's 1945 article "The Theory of Economic Behavior." (From the American Economic Review, 1945)

Audio

MPR News
Radio

Listen Now

On Air

BBC World Service

Schedule

Shortcuts
Hourly Newscast
Hosts
Station Map

Other Radio Streams from MPR

Classical MPR
Radio Heartland

Services

What is 'mechanism design theory?'


Listen to program

A retired professor from the University of Minnesota became the oldest person ever honored with a Nobel Prize Monday. Leonid Hurwicz, 90, will share this year's Nobel in economics "for having laid the foundations of mechanism design theory." What does that mean in layman's terms?

Guests

  • Louis Johnston: Professor of economics at St. John's University and the College of St. Benedict in Collegeville. Johnston studied under Leonid Hurwicz.

More from MPR

Your Voice




Related Topics



Become a sponsor

Most Shared

  1. 'Copyright trolls' target Minnesotans, accusing them of stealing online porn
  2. Allende finds inspiration for novel close to home
  3. Cocaine, DEET, other chemicals found in Minnesota lakes
  4. Chronic pain increasingly accompanies Minnesota veterans home from war
  5. Meet 'Big Honza,' Montgomery, Minnesota's 12-foot Czech folk hero

Latest News & Features


News Cut

with Bob Collins