Eric Maskin
Eric Maskin

There is universal consensus among experts that the earth's atmosphere is heating up - and that we are responsible for it by putting carbon dioxide in the atmosphere. We also know that the consequences of global warming are catastrophic. But how do we make sure that all countries reduce greenhouse gases?

Eric Maskin
Eric Maskin

If budget planning requires gathering information from people who may not always have the incentive to disclose that information, then the principles of mechanism design can definitely be of use in such planning.

Eric Maskin
Eric Maskin

I don't want to make public statements about issues that I have not studied in detail.

Eric Maskin
Eric Maskin

I was born in New York City but grew up across the Hudson River in Alpine, New Jersey.

Eric Maskin
Eric Maskin

What we mean by an outcome will naturally depend on the context. Thus, for a government charged with delivering public goods, an outcome will consist of the quantities provided of such goods as intercity highways, national defense and security, environmental protection, and public education together with the arrangements by which they are financed.

Eric Maskin
Eric Maskin

I entered economics because of a course I took on 'information economics,' which I found fascinating.

Eric Maskin
Eric Maskin

Of course, MIT was notable not just for its faculty but also for its students. And, facing such extremely bright kids as a rookie teacher was something like being thrown to the wolves.

Eric Maskin
Eric Maskin

Devising a mechanism is a lot like solving a puzzle - and gives you the same kind of kick.

Eric Maskin
Eric Maskin

I choose questions to work on according to how much they excite me.

Eric Maskin
Eric Maskin

Leo Hurwicz is the father of mechanism design theory and has inspired much of my work, and Roger Myerson is an old friend and collaborator and a tremendous economist.

Eric Maskin
Eric Maskin

When a bank calls in a loan, it obviously hurts the customer in question. But it also adversely affects other banks that have lent to this borrower. They are now less likely to be repaid and so can't as readily lend to their own customers.

Eric Maskin
Eric Maskin

It wasn't that Harvard was deliberately trying to overwork me, but I think I had a tendency to take on more things out of enthusiasm than were good for me.

Eric Maskin
Eric Maskin

Prediction is certainly a valuable goal in science, but not the only one. Explanation is also important, and there are plenty of sciences that do a lot of explaining and not much predicting.

Eric Maskin
Eric Maskin

Most policy makers embrace a religious-like belief that the market can and should solve every problem.

Eric Maskin
Eric Maskin

At Tenafly High, I was lucky to have some dedicated teachers; I'm especially indebted to my calculus instructor, Francis Piersa, who opened my eyes to the striking beauty of mathematics.

Eric Maskin
Eric Maskin

I probably learned most at MIT by teaching and working with Peter Diamond, who acted like a big brother to me during my time in the department.

Eric Maskin
Eric Maskin

Much theoretical work, of course, focuses on existing economic institutions. The theorist wants to explain or forecast the economic or social outcomes that these institutions generate.

Eric Maskin
Eric Maskin

The theory of mechanism design can be thought of as the 'engineering' side of economic theory.

Eric Maskin
Eric Maskin

Because mechanism designers do not generally know which outcomes are optimal in advance, they have to proceed more indirectly than simply prescribing outcomes by fiat; in particular, the mechanisms designed must generate the information needed as they are executed.

Eric Maskin
Eric Maskin

Economic forecasting has actually got pretty good over the years, though admittedly, we don't always get it right.