If I buy a car, I use the car, you don't, and the market for cars works pretty well. But there are many other sorts of goods, often very important goods, which are not provided well through the market. Often, these go under the heading of public goods. Eric Maskin buycargood 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
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 deliberatelyenthusiasmgood 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
Perhaps one day earthquakes, hurricanes and financial crashes will all be predictable. But we don't have to wait until then for seismology, meteorology and economics to become sciences; they already are. Eric Maskin crashdayearthquake share on social
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 advancedesigndesigner share on social
The Nobel Prize is not very important for the winners - they are usually pretty successful people already. But it is valuable as a way of drawing the public's attention to important work in economics. Eric Maskin attentiondraweconomics Change image and share on social
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 beautycalculusdedicate Change image and share on social
A properly designed tax system can strike a balance between helping the poor and, at the same time, giving people the incentive to work. Eric Maskin balancedesigngive Change image and share on social
Devising a mechanism is a lot like solving a puzzle - and gives you the same kind of kick. Eric Maskin devisekickkind Change image and share on social
