Eric Maskin

Institute for Advanced Study

  • Planning, Shortage, and Transformation

    Planning, Shortage, and Transformation

    Essays in Honor of János Kornai

    Eric Maskin

    The three major themes of János Kornai's work reflected in the title of this book—planning, shortage, and transition, or transformation—figure prominently in the essays.

    The three major themes of János Kornai's work reflected in the title of this book—planning, shortage, and transition, or transformation—figure prominently in the essays. After a philosophical introduction by Edmond Malinvaud, the book is divided into three sections: Markets and Organizations, Theory of Transition, and The Transitional Experience.

    János Kornai is one of the world's leading experts on the economics of socialism and transition. An early advocate of reform in Hungary, he has written penetrating analyses of centrally planned economies and their transformation to market-oriented systems. This volume is being published in celebration of Kornai's seventieth birthday.

    Contributors Abram Bergson, Sharad Bhandari, Bernard Chavance, Mathias Dewatripont, Jacques Drèze, Michael Ellman, Richard Ericson, István R. Gábor, Paul Hare, David M. Kemme, János Köllö, Georges Korsun, Mári Lackó, Marie Lavigne, Edmond Malinvaud, Béla Martos, Eric S. Maskin, Peter Murrell, Yingyi Qian, Richard Quandt, John Roemer, Gérard Roland, Jeffrey Sachs, András Simonovits, Robert Solow, Wim Swaan, Jörgen Weibull, Martin Weitzman, Wing Thye Woo, Chenggang Xu

    • Hardcover $15.75
    • Paperback $35.00
  • Economic Analysis of Markets and Games

    Economic Analysis of Markets and Games

    Essays in Honor of Frank Hahn

    Partha Dasgupta, Douglas Gale, Oliver Hart, and Eric Maskin

    These original essays focus on a wide range of topics related to Frank Hahn's distinguished work in economics. Ranging from market analysis and game theory to the microeconomic foundations of macroeconomics and from equilibrium and optimality with missing markets to economics and society, they reflect the diversity of modem research in economic theory. What distinguishes Hahn's work and many of the essays in this book is that the motivation often comes from practical concerns about unemployment, savings and investment, poverty, or the stability of markets.

    The essays in Part I deal with the microeconomic foundations of macroeconomics - a field in which Hahn has made important contributions, most notably in the theory of monetary economics. Topics include an evaluation of Hahn's contribution to the theory of distribution and such macroeconomic themes as coordination failure, multiple equilibria, and strategic issues. Part II contains recent contributions to game theory reflecting Hahn's interest in the question of what is rational behavior. The essays in Part III concentrate on general-equilibrium theory with missing markets, a field in which Hahn has made major advances. Although the essays address a different set of issues, they share with Hahn's works such themes as market failure, indeterminacy of equilibrium, and the role of money.

    • Hardcover
    • Paperback $65.00

Contributor

  • Lives of the Laureates, Seventh Edition

    Lives of the Laureates, Seventh Edition

    Thirty-Two Nobel Economists

    Roger W. Spencer and David A. Macpherson

    Autobiographical accounts by Nobel laureates reflect the richness and diversity of contemporary economic thought and offer insights into the creative process; with six new laureates.

    Lives of the Laureates offers readers an informal history of modern economic thought as told through autobiographical essays by thirty-two Nobel Prize laureates in economics. The essays not only provide unique insights into major economic ideas of our time but also shed light on the processes of intellectual discovery and creativity. The accounts are accessible and engaging, achieving clarity without sacrificing inherently difficult content.

    This seventh edition adds six Nobelists to its pages: Roger B. Myerson (co-recipient in 2007) describes his evolution as a game theorist and his application of game theory to issues that ranged from electoral systems to perverse incentives; Thomas J. Sargent (co-recipient in 2011), recounts the development of the rational expectations model, which fundamentally changed the policy implications for macroeconomic models; Amartya Sen (recipient in 1998) reflects on his use of a bicycle (later donated to the Nobel Museum) to collect data early in his career; A. Michael Spence (co-recipient in 2001) describes, among other things, his whiplash-inducing first foray into teaching an undergraduate class; Christopher A. Sims (co-recipient in 2011) discusses his “non-Nobel” research; and Alvin E. Roth (co-recipient in 2012) chronicles the “three insurrections” he has witnessed in mainstream economics.

    Lives of the Laureates grows out of a continuing lecture series at Trinity University in San Antonio, which invites Nobelists from American universities to describe their evolution as economists in personal as well as technical terms.

    The Laureates

    W. Arthur Lewis, Lawrence R. Klein, Kenneth J. Arrow, Paul A. Samuelson, Milton Friedman, George J. Stigler, James Tobin, Franco Modigliani, James M. Buchanan, Robert M. Solow, William F. Sharpe, Ronald H. Coase, Douglass C. North, John C. Harsanyi, Myron S. Scholes, Gary S. Becker, Robert E. Lucas, Jr., Vernon L. Smith, Clive W. J. Granger, Edward C. Prescott, Thomas C. Schelling, Edmund S. Phelps, Eric S. Maskin, Joseph E. Stiglitz, Paul Krugman, Peter A. Diamond, Roger B. Myerson, Thomas J. Sargent, Amartya Sen, A. Michael Spence, Christopher A. Sims, Alvin E. Roth

    • Hardcover $55.00
  • Lives of the Laureates, Sixth Edition

    Lives of the Laureates, Sixth Edition

    Twenty-three Nobel Economists

    Roger W. Spencer and David A. Macpherson

    Autobiographical accounts by Nobel laureates reflect the richness and diversity of contemporary economic thought and offer insights into the creative process.

    Lives of the Laureates offers readers an informal history of modern economic thought as told through autobiographical essays by twenty-three Nobel Prize laureates in Economics. The essays not only provide unique insights into major economic ideas of our time but also shed light on the processes of intellectual discovery and creativity. The accounts are accessible and engaging, achieving clarity without sacrificing inherently difficult content.

    This sixth edition adds four recent Nobelists to its pages: Eric Maskin, who illustrates his explanation of mechanism design with an example involving a mother, a cake, and two children; Joseph Stiglitz, who recounts his field's ideological wars linked to policy disputes; Paul Krugman, who describes the insights he gained from studying the model of the Capitol Hill Babysitting Coop (and the recession it suffered when more people wanted to accumulate babysitting coupons than redeem them); and Peter Diamond, who maps his development from student to teacher to policy analyst.

    Lives of the Laureates grows out of a continuing lecture series at Trinity University in San Antonio, which invites Nobelists from American universities to describe their evolution as economists in personal as well as technical terms. These lectures demonstrate the richness and diversity of contemporary economic thought. The reader will find that paths cross in unexpected ways—that disparate thinkers were often influenced by the same teachers—and that luck as well as hard work plays a role in the process of scientific discovery.

    The Laureates Lawrence R. Klein • Kenneth J. Arrow • Paul A. Samuelson • Milton Friedman • George J. Stigler • James Tobin • Franco Modigliani • James M. Buchanan • Robert M. Solow • William F. Sharpe • Douglass C. North • Myron S. Scholes • Gary S. Becker • Robert E. Lucas, Jr. • James J. Heckman • Vernon L. Smith • Edward C. Prescott • Thomas C. Schelling • Edmund S. Phelps • Eric S. Maskin • Joseph E. Stiglitz • Paul Krugman • Peter A. Diamond

    • Hardcover $40.00