2007 Nobel in Economics: Designing Better Markets(2/2)

In fact, experts say the theory explains why a version called a double auction is often the best way to trade. In a double auction, buyers and sellers both make price bids.The Swedish academy says the theory also explains why there is often no good market solution to providing some goods, like uncrowded roads.

Mechanism design theory is part of the wider economic idea of game theory and it has many uses -- including in political science. Roger Myerson even built a mathematical model for elections. He found a voting system that he says would have helped Florida avoid its problems in the two thousand presidential election.

The Nobel Prize award ceremonies will take place on December tenth. The official name of the economics award is the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. The Swedish central bank created the prize in nineteen sixty-eight.

Leo Hurwicz was born in Russia in nineteen seventeen. He developed new ways to understand markets. He began his work after World War Two. At ninety years old, he is the oldest person ever to win a Nobel Prize.

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实际上，专家称这个理论解释了为什么被称为复式拍卖的解决方案通常是交易中最好的方案。在复式拍卖中，买卖双方都可以出价。瑞典科学院评价说这个理论还解释了为什么通常没有什么好的市场方案来解决某些商品供应的问题，如同让道路畅通（一样艰难）。

机制设计理论是更广的经济学理论-博弈理论的一部分。这个理论可以用于很多方面--包括政治领域。Roger Myerson甚至曾设计过一个用于选举的数学模型。他称他发现的投票系统可以帮助弗罗里达州避免在2000年总统大选中出现问题。

诺贝尔经济学奖将于12月10日颁奖。这个经济学奖的官方名称是"瑞典银行纪念阿尔弗雷德•诺贝尔经济学奖"瑞典中央银行于1968年创建此项奖励。

Leo Hurwicz1917年生于俄国。他发现了解读市场的新方法。他于2战后开始他的研究。在他90高龄时，其成为获得诺贝尔奖最年长的人。