He shared the Nobel Memorial Prize in Economic Sciences for 2007 with Eric S. Maskin and Roger B. Myerson ‘for having laid the foundations of mechanism design theory.’
Born on 21 August 1917 to a family of Polish Jews, who were temporarily based in Moscow during World War I, from the age of two he lived and attended schools in Warsaw. He finished law at the University of Warsaw, and then studied at the London School of Economics, after which he moved to Geneva, where he studied at the Graduate Institute of International Studies. In 1940, he emigrated to the US, where he finished economics at the University of Chicago and Harvard University.
He died on 24 June 2008 in Minneapolis.