On the morning of June 30, 2020, the 151st Master Distinguished Lecture,
co-sponsored by the Graduate School, SJTU and Antai College of
Economics & Management (ACEM), welcomed Professor Eric S. Maskin,
Adams University Professor at Harvard University and laureate of the
2007 Nobel Prize in Economics. He gave a wonderful online lecture
entitled "An Introduction to Mechanism Design" to the students of
Shanghai Jiao Tong University. To get more news about [url=http://www.acem.sjtu.edu.cn]China business school[/url], you can visit acem.sjtu.edu.cn official website.
Dai
Liang, Associate Professor from the Department of Economics of ACEM
presided over this online forum. Professor Eric Maskin is an expert with
profound attainments in the field of economic theories, such as
mechanism design, game theory and contract theory, etc. He worked at
MIT, Harvard University and Institute of Advanced Studies (IAS), and is a
member of the American Academy of Arts and Sciences, the Econometric
Society, the European Economic Association and a Corresponding Fellow of
the British Academy. He was the Fellow of the Econometric Society in
2003. He won the Nobel Laureate in Economics for "having laid the
foundations of mechanism design theory" in 2007. The lecture started in a
relaxed and pleasant atmosphere. Professor Maskin introduced some
basics theory of the mechanism design and its differences from
traditional microeconomics.
By using three examples of cutting the
cake, wireless spectrum auction and public energy selection, he
introduced to the audience in an easy-to-understand way his research
results which won him the Nobel Prize – the mechanism design theory,
that is, when an economic or social objective is given, how to design a
program or system (mechanism) to achieve the objective. He also guided
the audience to discuss whether there is a general method to determine
whether a given objective can be achieved and whether an implementable
mechanism can be designed for it. At the end of the lecture, Professor
Maskin introduced the sufficiency and necessity for the implementation
of Nash equilibrium - Maskin's Games - which was proved in his paper
Nash Equilibrium and Welfare Optimality in 1977.
During the lecture,
the students who listened to the lecture in the cloud asked questions
enthusiastically. In the Q&A session, the host, Associate Professor
Dai Liang, discussed with Professor Maskin on behalf of the audience
such issues as "how the mechanism designer handles the population
uncertainty", "roles that the mechanism design can play when the
government faces uncertainty" and "the frontier theories and leaders in
mechanism design". The communication between Professor Maskin and the
young professor of Jiao Tong University enabled the students to broaden
their horizons and inspire their divergent thinking. Several students'
representatives from the Graduate School of the university also had the
honor to talk to Professor Maskin and asked the professor some questions
related to their academic research, and the professor answered them one
by one with patience. At the end of the forum, the host expressed
sincere gratitude to the professor for coming and his wonderful speech
on behalf of the audience, and also expressed heartfelt thanks to the
co-organizers of the event - Cardinal Pitch Club (CPC) and Hangzhou
Turing Workstation.
This lecture attracted over 3,000 audiences
online. ACEM will continue to launch high-quality academic activities to
nurture the minds of students and alumni of Jiao Tong University.