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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
Tags: must, information, more, know

Other Quotes by "Eric Maskin"

In an industry with highly sequential innovation, it may be better for society to scrap patents altogether than try to tighten them.
— Eric Maskin
Tags: try, innovation, better, society
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
Tags: social, explain, economic, work
I think I have met nearly all the Laureates in Economics. Among the few I haven't met, I suppose I'd most like to meet Ronald Coase because of his legendary power to persuade his colleagues of the validity of the Coase Theorem.
— Eric Maskin
Tags: economics, think, colleagues, power
I don't want to make public statements about issues that I have not studied in detail.
— Eric Maskin
Tags: about, make, detail, want
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
Tags: more, think, me, good
View More by "Eric Maskin"
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