On Dec 18, Eric Maskin,Nobel Laureate in Economics, Adams University Professor and Professor of Economics and Mathematics at Harvard University, was invited to deliver an academic lecture at Central University of Finance and Economics (CUFE). The lecture, entitled “An introduction to mechanism design”, was held at the Academic Hall and attracted nearly 400 participants, including faculty and students from CUFE as well as students fromThe High School Affiliated To Beijing JiaoTong University, Beijing Jingshan School, and Beijing No. 171 High School. The event was chaired by Jin Jing, deputy director of the China Economics and Management Academy (CEMA), School of Innovation and Development.

On Dec 18, Eric Maskin, Nobel Laureate in Economics, Adams University Professor and Professor of Economics and Mathematics at Harvard University, is invited to deliver an academic lecture at Central University of Finance and Economics (CUFE). [Photo/CUFE]

As one of the founding figures of mechanism design theory,Professor Maskin has made profound contributions to modern economics. His research has been widely applied in establishment of market mechanisms, public policy formulation, and the optimal allocation of resources. During the lecture, Professor Maskin used three case studies—the "Cake Dividing" problem, radio spectrum license auctions, and public energy choices—to explain the core principles of mechanism design theory in aclear and accessible way.He demonstrated how, in a world of dispersed information and diverse participant objectives, clever institutional arrangements can guide people's behavior to spontaneously achieve socially desirable goals, showcasing the crucial role of mechanism design theory in addressing information asymmetry and achieving socially optimal outcomes.He alsodelved into how mechanism design theory provides efficient solutions for various economic activities, citing its broad application prospects, such as designing international treaties for reducing greenhouse gas emissions and formulating policies to prevent financial crises. These examples demonstrate that mechanism design theory cleverly reconciles individual rationality with collective rationality, making social goals a powerful tool for guiding individual rational choices.

On Dec 18, Eric Maskin, Nobel Laureate in Economics, Adams University Professor and Professor of Economics and Mathematics at Harvard University, is invited to deliver an academic lecture at Central University of Finance and Economics (CUFE). [Photo/CUFE]

During the interactive session, faculty members and students engaged in lively discussions with Professor Maskin on topics such as the assumptions underlying mechanism design, information structures, applications to international agreements, and researchmethods. He also offered thoughtful advice in response to questions from secondary school students regarding future academic and career choices.

The lecture reflects CUFE’s continued efforts to enhance talent cultivation, promote academic innovation and disciplinary development, and strengthen international academic exchange and cooperation. It also served as an effective platform for introducing economic thinking to younger students and fostering their interest in the discipline.

Writers: WANG Xiongjian, SHEN Jiayi

Reviewers:JIN Jing, LIN Yiru

Editors: LI Ying

Approvers: HUO Xiaoran