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Press Release 07-146
National Science Foundation Congratulates 2007 Nobel Prize in Economics Laureates

Since 1969, NSF has supported 38 Nobel economics award recipients at various stages of their careers

Nobel Prizes

The annual Nobel prize laureates were announced this month.
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October 17, 2007

The National Science Foundation (NSF) congratulates the 2007 Nobel laureates, particularly Leonid Hurwicz, Eric Maskin and Roger Myerson, who earned the prize for their economics research. All three received NSF support over many decades for the research that earned them this year's prize.

In fact, since 1969, when the Nobel Prize in economics was established, NSF has funded 38 recipients of the Nobel economics honor.

"We are very proud of this year's laureates and their impressive achievements in economics," said Arden L. Bement, Jr., NSF director. "Their research in mechanism design has helped us understand how markets in different economies are driven by individual needs in concert with society's overall goals."

The Nobel Prize in Economics for 2007 was awarded jointly to Leonid Hurwicz, Eric Maskin and Roger Myerson for their mechanism design theory. "The theory allows us to distinguish situations in which markets work well from those in which they do not. It has helped economists identify efficient trading mechanisms, regulation schemes and voting procedures," the Royal Swedish Academy of Sciences stated in their announcement.

Established "to promote the progress of science," NSF supports fundamental research in many disciplines. Since 1950, Nobel Prizes have been awarded to 175 U.S. and U.S.-based researchers supported by NSF grants at some point in their careers.

"This year's Nobel Prize recipients, like so many other scientists and researchers, are emblematic of the years devoted to their field of study before their work is recognized," Bement said. "We are truly pleased to be an agency that can fund cutting-edge research like theirs."

A complete list of NSF-funded Nobel Prize winners is posted at: http://www.nsf.gov/news/news_summ.jsp?cntn_id=100683.

-NSF-

Media Contacts
Dana Topousis, National Science Foundation, (703) 292-7750, dtopousi@nsf.gov

Related Websites
Nobel Laureates: http://nobelprize.org/
Leonid Hurwicz Web page: http://www.econ.umn.edu/faculty/hurwicz/
Eric Maskin Web page: http://www.sss.ias.edu/community/maskin.php
Roger Myerson Web page: http://home.uchicago.edu/~rmyerson/

The National Science Foundation (NSF) is an independent federal agency that supports fundamental research and education across all fields of science and engineering. In fiscal year (FY) 2014, its budget is $7.2 billion. NSF funds reach all 50 states through grants to nearly 2,000 colleges, universities and other institutions. Each year, NSF receives about 50,000 competitive requests for funding, and makes about 11,500 new funding awards. NSF also awards about $593 million in professional and service contracts yearly.

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Leonid Hurwicz
Leonid Hurwicz
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Eric Maskin
Eric Maskin
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Roger Myerson
Roger Myerson
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