马斯金的又一好消息:他和他的老合作者Dasgupta(也是诺贝尔奖级的一流大师)的AER(2005)的论文获得Kempe奖

我们最新一期的AEF发表了他们俩的论文.

Eric Maskin Shares Erik Kempe Award

http://ias.edu/newsroom/news-briefs/#Maskin

The European Association of Environmental and Resource Economists have presented the 2007 Erik Kempe Award to Partha Dasgupta and Eric Maskin, Albert O. Hirschman Professor in the School of Social Science , for their article, "Uncertainty and Hyperbolic Discounting", published in American Economic Review, 95(4), pp. 1290-1299, 2005.   The prize is awarded biannually to the best paper in the field of environmental and resource economics, published in a refereed journal by an author affiliated to a European research institution (in the case of joint papers, at least one author must be affiliated to a European institution).  An international jury of three members awards the prize, and in making their selection, they noted, "Dasgupta and Maskin provide an evolutionary explanation for hyperbolic discounting based on uncertainty over when in the future the impacts of alternative actions are going to be realized. Although the behaviour predicted is dynamically consistent, it appears inconsistent. The authors show that the optimal decision means being relatively patient when the time horizon is long and impatient when the horizon grows short. Though the precise implications of this for social discounting remain for exploration, this paper ­ written by two of the pre-eminent economists of our generation, and appearing in the world's leading economic journal -- seems to offer an important foundation for attaching higher weights to the distant future than standard exponential discounting would suggest."