Eric Maskin Quotes

Eric Maskin
Eric Maskin
American Economist
Born: Dec 12, 1950
Also Economics Market People Work You
Related authors: Alan Greenspan Herbert A. Simon John Kenneth Galbraith Milton Friedman Paul A. Volcker Richard Thaler Robert Reich Thomas Sowell
Markets work well with goods that economists call private goods. Eric Maskin
Work Markets Economists Goods Well Call Private
There is universal consensus among experts that the earth's atmosphere is heating up - and that we are responsible for it by putting carbon dioxide in the atmosphere. We also know that the consequences of global warming are catastrophic. But how do we make sure that all countries reduce greenhouse gases? Eric Maskin
Consequences Earth Responsible Atmosphere Catastrophic Putting Countries Global Know Also Global Warming Make Sure How Reduce Up Greenhouse Greenhouse Gases Heating Experts Warming Carbon Among Carbon Dioxide Universal Consensus Gases
There are some things that we value as a public good that the markets can't deliver, like clean air. Eric Maskin
Good Value Air Markets Some Some Things Clean Clean Air Deliver Like Public Public Good Things
Of course, MIT was notable not just for its faculty but also for its students. And, facing such extremely bright kids as a rookie teacher was something like being thrown to the wolves. Eric Maskin
Teacher Extremely Kids Something Facing Thrown Students Faculty Like Also Course MIT Wolves Just Being Notable Rookie Bright
I like to work on a number of things simultaneously. If you're working on a variety of projects and if you get stuck on one of them, you can move to another without grinding your gears indefinitely. Eric Maskin
Work You Projects Indefinitely Gears Variety Stuck Simultaneously Like Another Without Get Move Them Grinding Working Your Things Number
Devising a mechanism is a lot like solving a puzzle - and gives you the same kind of kick. Eric Maskin
You Kick Kind Solving Gives Puzzle Like Devising Lot Same Mechanism
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
Mathematics Eyes Beauty Indebted Striking Francis High Some Opened Calculus Instructor Teachers Dedicated Who Lucky
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
Time Me Big Diamond Brother My Time Like Most Learned Big Brother MIT Department Working Acted Teaching Who Peter
The theory of mechanism design can be thought of as the 'engineering' side of economic theory. Eric Maskin
Thought Engineering Design Side Economic Economic Theory Theory Mechanism
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
Must Outcomes More Indirectly Generally Generate Advance Simply Particular Know Executed Because Optimal Than Fiat Proceed Information Which Mechanism Mechanisms Prescribing Designed Designers Needed
Economic forecasting has actually got pretty good over the years, though admittedly, we don't always get it right. Eric Maskin
Good Though Pretty Admittedly Pretty Good Economic Over Forecasting Always Got Years Get Actually Right
I think I have met nearly all the Laureates in Economics. Among the few I haven't met, I suppose I'd most like to meet Ronald Coase because of his legendary power to persuade his colleagues of the validity of the Coase Theorem. Eric Maskin
Power Economics Met Few Think Meet Validity Colleagues Laureate Suppose Like Most Because His Legendary Persuade Theorem Among Nearly
I choose questions to work on according to how much they excite me. Eric Maskin
Work Me Excite How How Much Questions According Much Choose
Prediction is certainly a valuable goal in science, but not the only one. Explanation is also important, and there are plenty of sciences that do a lot of explaining and not much predicting. Eric Maskin
Science Valuable Important Plenty Only Also Sciences Goal Lot Predicting Prediction Explaining Explanation Much Certainly
Through meteorology, we know essentially how hurricanes form, even though we can't say where the next storm will arise. Eric Maskin
Will Say Though Hurricanes Through Arise Know How Essentially Where Form Storm Next Even
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
Good Me Enthusiasm Think Harvard Out More Deliberately Tendency Take Had Were Than Overwork Trying Things
I don't want to make public statements about issues that I have not studied in detail. Eric Maskin
Statements Detail About Studied Make Issues Want Public Public Statements
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
Government Will Otherwise Market Would Badly Prospect Come Make Repayment Go Anticipate Imprudent May Banks Little Should Rescue Credit Awry Loans
A contingent bailout policy - implicit or explicit - must be coupled with some regulation of what banks can and cannot do. For example, a ban on lending to uncreditworthy customers might well make sense. Eric Maskin
Example Sense Must Some Implicit Bailout For Example Well Coupled Make Policy Contingent Ban Banks Cannot Lending Explicit Customers Might Regulation
The market doesn't work very well when it comes to public goods. Eric Maskin
Work Market Goods Well Very Public
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
Buy You Car Important Other Market Pretty Through Heading Goods Well Sort Go Provided Very Often Which Public Use Many Works

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