He receives his PhD degree in 1976, also in applied mathematics. His thesis “A Theory of Cooperative Games” sets the tone for his career, and he is an acknowledged expert in the field of game theory, introducing a refinement of Nash’s equilibrium concept, called “proper equilibrium”.
He moves to the renowned economics department of the University of Chicago, where he still works. Myerson has urged caution over the rush to war in Iraq. He warned that “unilateral military actions might produce short-term successes, but we must recognize their long-term dangers…Great-power rivalries can start again, with their uncontrollable arms races feeding on mutual distrust.
In 1976, he is hired as an assistant professor at the Northwestern University’s Kellogg School of Management. He becomes a full professor in 1982.
He shares the 2007 Nobel Prize in Economics with Leonid Hurwicz and Eric Maskin "for having laid the foundations of mechanism design theory". The theory seeks to understand how social plans for allocating resources may be constrained by the need to provide incentives for people to share required information. Myerson's "revelation principle" and the "revenue-equivalence theorem" have helped economists to identify efficient trading mechanisms, regulation schemes, and voting procedures.
He attends Harvard University and discovers game theory in 1972. He stays with this subject even though there are no regular courses. He receives his MSc in 1973, in applied mathematics.
Roger B. Myerson is born on March 19, 1951, in Boston, Massachusetts.
He marries Gina Weber. Their children Daniel and Rebecca are born in 1983 and 1985.