UW Economics Alumni Organization

UW Economics Alumni Organization Nobel Prize in Economics Lecture 2008:
"To Tell the Truth: Asymmetric Information and Optimal Mechanism Design"

Mechanism Design is a complex and mathematically-based theory that seeks to understand and answer questions about the gap in knowledge between buyers and sellers that prevents or promotes efficient operations in a market, a phenomenon known in economics as "information asymmetry." This is one of the most widely-studied aspects of the discipline of economics, and has concrete applications to real-world situations. Specifically, the theory deals with achieving specific, equitable outcomes in market transactions although each participant may be entirely self-interested.

Please join the UW Economics Alumni Organization for their annual Nobel Prize in Economics Lecture. The winners of the 2007 Nobel Prize in Economics Sciences were selected for having laid the foundations of mechanism design theory and this year's lecture will clarify and discuss the implications of this theory in detail. This year's address will be co-presented by Professor and Associate Chair of Economics Jacques Lawarree, a Robert and Larina Davis Distinguished Scholar, and Senior Economics Lecturer Greg Ellis. Professors Lawarree and Ellis both focus their research on areas of Industrial Organization and Microeconomics Theory and have expertise in the area of Mechanism Design Theory. The event will be followed by a reception with the speakers.

Thursday, April 24, 2008
Walker-Ames Room, Kane Hall, UW Seattle Campus
7:00 - 8:30 p.m.
Current UWAA Members: $5.00; Non-members: $7.00; Students: $3.00

Registration is now open! Browse to the UW Alumni Association registration page to secure your spot at the lecture.

• www.nobelprize.org History and information about the Nobel Prizes and the Nobel Foundation, with various interactive and multimedia features
• The Sveridges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2007 Information about the current and recent winners of the Nobel Prize in Economics
• 2007 Nobel Prize in Economics - Info for the Public (pdf 137 kB) Informational document for the general reader about the theory of Mechanism Design
• Mechanism Design Wikipedia
• What is Mechanism Design? Article in Reason Magazine from October 2007

Generous support for this event has been provided by

Presented by the UW Alumni Association, the Department of Economics, and the UW
Economics Alumni Organization as part of Washington Weekend 2008