"Hurwicz talked in 1949 about the need to model strategic behavior. He said that Keynesian models were ignoring the fact that individuals aren't just stupid players who responded passively to what the government did, but that they had the option to change their strategy when the government changed its strategy. That's the rational expectations program. He was ignored for 20 years or more."
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Jews from the United StatesJewsEconomists from the United StatesNobel laureates in EconomicsEconomists from Poland
Original Language: English
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Thomas J. Sargent, in Conversations with Economists (1983) by Arjo Klamer
https://en.wikiquote.org/wiki/Leonid_Hurwicz
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Leonid Hurwicz
Leonid "Leo" Hurwicz (August 21, 1917 – June 24, 2008) was a Polish-American economist and mathematician. He was among the first economists to recognize the value of game theory and was a pioneer in its application. Hurwicz shared the 2007 Nobel Memorial Prize in Economic Sciences with Eric Maskin and Roger Myerson for their work on .
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