In an industry with highly sequential innovation, it may be better for society to scrap patents altogether than try to tighten them. Eric Maskin altogetherhighlyindustry Change image and share on social
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 economicexistexplain Change image and share on social
I'm not a housing market expert, and I don't want to pretend to be one. Eric Maskin experthousemarket Change image and share on social
If I'm a bank, and I'm making risky loans, I have an incentive, if I can, to make those loans using other people's money: in other words, to make highly leveraged loans. Eric Maskin bankhighlyincentive Change image and share on social
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 anticipateawrybadly share on social
Through meteorology, we know essentially how hurricanes form, even though we can't say where the next storm will arise. Eric Maskin ariseessentiallyform Change image and share on social
I entered economics because of a course I took on 'information economics,' which I found fascinating. Eric Maskin economicsenterfascinate Change image and share on social
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 adverselyaffectbank share on social
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 actbigbrother Change image and share on social
Many markets work best with little or no outside interference. But others - especially those subject to big 'externalities' - need a helping hand. Eric Maskin bigexternalityhand Change image and share on social
