Leonid Hurwicz

Leonid "Leo" Hurwicz ( Russian: Леони́д Гу́рвич; August 21, 1917 – June 24, 2008) was an economist and mathematician, born in Moscow. He originated incentive compatibility and mechanism design, which show how desired outcomes are achieved in economics, social science and political science. Interactions of individuals and institutions, markets and trade are analyzed and understood today using the models Hurwicz developed. To date, Leonid Hurwicz is the oldest Nobel Laureate, having received the prize at the age of 90.