Glen A. Lloyd Distinguished Service Professor
1126 East 59th Street
773 834 9071
Myerson has made seminal contributions to the fields of economics and political science. In game theory, he introduced refinements of Nash's equilibrium concept, and he developed techniques to characterize the effects of communication among rational agents who have different information. His analysis of incentive constraints in economic communication introduced several fundamental concepts that are now widely used in economic analysis, including the revelation principle and the revenue-equivalence theorem in auctions and bargaining. Myerson has also applied game-theoretic tools to political science, analyzing how political incentives can be affected by different electoral systems and constitutional structures.
Myerson is the author of Game Theory: Analysis of Conflict (1991) and Probability Models for Economic Decisions (2005). He also has published numerous articles in professional journals, including Econometrica, Journal of Economic Theory, Games and Decisions, American Political Science Review, Mathematics of Operations Research, and International Journal of Game Theory. He has served as president of the Game Theory Society (2012-2014), president of the Econometric Society (2009), and vice president of the American Academy of Arts and Sciences (1999-2002).
Myerson has a PhD from Harvard University and taught for 25 years in the Kellogg School of Management at Northwestern University before coming to the University of Chicago in 2001. He is a member of the American Academy of Arts and Sciences, the National Academy of Sciences, and the Council on Foreign Relations. He has received several honorary degrees, and he received the Jean-Jacques Laffont Prize in 2009. He was awarded the 2007 Nobel Memorial Prize in Economic Sciences in recognition of his contributions to mechanism design theory, which analyzes rules for coordinating economic agents efficiently when they have different information and difficulty trusting each other.