Leonid Hurwicz

Picture of Leonid Hurwicz

Date of Birth: 08/21/1917

Age: 90

Place of birth: Moscow

Citizenship: United States

The oldest Nobel laureate

Gurvich introduced the concept of the mechanism and conditions of incentive compatibility, showing how the desired results are achieved in the field of economics, social science and political science. Today, the interaction of individuals and institutions, markets and entrepreneurs are analyzed using models developed by Gurvich.

As for 2011, Gurvich - the oldest Nobel laureate, won the prize in 90 years. He has received the award together with Eric Maskin (Eric Maskin) and Roger Myerson (Roger Myerson) in 2007 for their work on the theory of mechanism design. He was an honorary professor at the University of Minnesota Economics (University of Minnesota) and one of the first to recognize the value of game theory and became a pioneer in its application.

`Leo` Leonid Gurvich was born August 21, 1917-g Moscow, Russia, to a Jewish family from Poland, just a few months before the October Revolution. Gurvich and his family was persecuted by both the Bolsheviks and by the Nazis when in 1939 Hitler invaded Poland. His parents and brother fled to Warsaw (Warsaw), but were captured and sent to Soviet labor camps.

In 1938 he graduated from the Warsaw University Gurvich (Warsaw University), and finally, in 1940 he emigrated to the United States. Later, his family moved to it.

Gurvich met with Evelyn Jensen (Evelyn Jensen) 1923 born, who grew up on a farm in Wisconsin (Wisconsin). In 1944, Evelyn and Leonid married. They lived in Minneapolis, Minnesota (Minneapolis, Minnesota), and raised their four children: Sarah (Sarah), Michael (Michael), Ruth (Ruth) and Maxim (Maxim).

The areas of interest include linguistics, archeology, biochemistry and music. Beyond the economy, Leonid conducted research in meteorology and was a member of the committee of the National Science Foundation (NSF) for weather modification.

When Eugene McCarthy (Eugene McCarthy) ran for President of the United States, Gurvich in 1968 represented McCarthy in Minnesota at the Congress of the Democratic Party and was a member of the committee `democratic platformy`. He participated in the development of `walking subcaucus`, the method of distribution of delegates between rival groups, which is still used by political parties.

In 1941, Gurvich became researcher Paul Samuelson (Paul Samuelson) at MIT (Massachusetts Institute of Technology) and Oscar Lange (Oskar Lange) at the University of Chicago. From 1942 to 1944 he was the first member of the faculty of the Institute of Meteorology at the University of Chicago and taught Statistics at the Faculty of Economics.

Gurvich received a scholarship Guggenheim DS in 1945-1946. In 1946 he became an associate professor of economics at the College of Iowa (Iowa State College) State, before that - from January 1942 to June 1946 - being a researcher at the Cowles Commission for Research in Economics (Cowles Commission).

From October 1950 to January 1951, he again served as a consultant Cowles Commission, finally parting with her only in 1961.

Thanks to Walter Heller (Walter Heller), in 1951 Gurvich was in the University of Minnesota (University of Minnesota), where he became a professor of economics and mathematics at the School of Business Administration (School of Business Administration). Most of his career he has dedicated this particular school, parallel to conducting research and teaching in other places in the US and Asia.

In 1959, Gurvich published work `On the optimality and information efficiency in the processes resursov` distribution. He taught at the University of Bangalore (Bangalore University) in 1965 and in 1980 left its mark on the University of Tokyo (Tokyo University), Renmin University of China (People`s University) and the University of Indonesia (University of Indonesia).

In the United States, he was a visiting professor at Harvard University in 1969, at the University of California at Berkeley (University of California, Berkeley) in 1969, in the North-West University (Northwestern University) in 1988 and 1989 and in University of California at Santa Barbara (University of California, Santa Barbara) in 1998. Before in 2002, temporarily teaching at the University of Michigan (University of Michigan), Gurvich was a visiting Professor Emeritus at the University of Illinois (University of Illinois) in 2001.

In 2007, while working at the University of Minnesota Gurvitch presented his current research, describing it as `a comparison and analysis of the systems and methods of organization of the economy, welfare economics, game-theoretic implementation of social objectives of choice and modeling of economic institutov`.

Getting into the field of economic modeling and mathematics and theory of the firm, Leonid has also published a number of works in this field in 1944. World is known for his pioneering research on its economic theory. In the 1950s he worked with Kenneth Arrow (Kenneth Arrow) on the non-linear programming, studying methods for solving optimization problems with nonlinear objective function.

Early economists avoided analytical modeling economic institutions, so the work Gurvich played an important role in revealing how economic models can serve as a basis for the analysis of systems, such as capitalism and socialism. His theory of incentive compatibility, he explained why centrally planned economy can fail and how the promotion of funds for individuals affected by decisions.

Gurvich was elected a member of the Econometric Society (Econometric Society) in 1947 and in 1969 was its president. In 1965, he was elected a member of the American Academy of Arts and Sciences (American Academy of Arts and Sciences), and in 1974 - the National Academy of Sciences (National Academy of Sciences).

In 1977, Leonid was made an honorary member of the American Economic Association (American Economic Association). In 1990 `for his pioneering work on the theory of modern decentralized mechanism raspredeleniya` he received from US President George W. Bush hands (George HW Bush) the National Medal of Science.

In mid-July 2008, Gurvich was hospitalized with kidney failure. He died a week later in Minneapolis.

It is named after the coefficient of optimism-pessimism, he proposed to be used in decision theory.

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