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If banks anticipate government will come to the rescue should the credit market go badly awry, they may make loans that would otherwise be imprudent, e.g. subprime loans with little prospect of repayment.
— Eric Maskin
Tags: credit, will, go, government

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
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
View More by "Eric Maskin"
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