Word: fudenberg
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...people who speculate know very little about it,” said Furer Professor of Economics Oliver D. Hart. Mechanism design theory emerged from the debate over whether a central planner could allocate resources efficiently without knowing everyone’s preferences, according to Abbe Professor of Economics Drew Fudenberg ’78, who co-authored an influential paper with Maskin. While the winners’ work is theoretical, it has important practical applications, such as federal auctions of the broadcast spectrum. “Once you know what’s possible, it gives you a framework...
Harvard played hardball with fellow Cambridge economic powerhouse MIT this year, snagging economic theorists Oliver Hart and Drew Fudenberg '78, while Professor of Economics Eric S. Maskin refused an MIT offer to join their faculty. Robert Bates, an expert in political economy of development, will join the Government Department...
...issues was whether we had to feel obligated to stay for the good of the department even if it wasn't the best for us," said Fudenberg. "We both wish MIT well... But people do what's best for them and hope it's reasonable. [MIT administrators] are actively working to recruit...
...Fudenberg said he will be teaching a first-year graduate theory sequence as well as both undergraduate and graduate courses in game theory...
...Fudenberg said that with his and Hart's arrival, Harvard will probably have the strongest group of economic theory experts in the country...