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Myerson

Myerson is a surname. It is most prominently associated with Roger B. Myerson, an American economist known for his work in mechanism design and game theory. He is a professor at the University of Chicago and a pivotal figure in the development of economic design, auction theory, and contract theory. In 2007, Myerson was awarded the Nobel Prize in Economic Sciences, jointly with Leonid Hurwicz and Eric Maskin, “for having laid the foundations of mechanism design theory.”

Myerson’s contributions to auction theory include the concept known as the Myerson auction, an approach to

A central result associated with his name is the Myerson–Satterthwaite theorem, which states that, in a bilateral

Beyond Roger Myerson, the surname is borne by other individuals across various fields, though Roger B. Myerson

selling
items
that
is
designed
to
maximize
expected
revenue
under
certain
informational
assumptions.
He
also
helped
develop
the
framework
of
virtual
valuations,
which
underpins
revenue-optimal
auction
design
and
related
results
in
market
design.
In
addition
to
auctions,
his
research
has
influenced
contract
theory,
information
economics,
and
the
broader
study
of
strategic
interaction
under
incomplete
information.
trading
setting
with
private
information
about
valuations,
no
mechanism
can
simultaneously
be
efficient,
individually
rational,
and
incentive-compatible
while
also
maintaining
budget
balance
under
standard
conditions.
This
impossibility
highlights
fundamental
trade-offs
in
designing
markets
with
asymmetric
information
and
has
shaped
subsequent
work
in
economic
design
and
policy.
remains
the
most
widely
cited
figure
in
economics
associated
with
the
name.