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Eric Maskin Quotes


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Quotes by Eric Maskin

Showing 31-40 of 42 Quotes by Eric Maskin

If I'm a bank, and I'm making risky loans, I have an incentive, if I can, to make those loans using other people's money: in other words, to make highly leveraged loans.

~Eric Maskin

Topics: Bank Highly In Other Words Incentive Loans Make Making Money Other People Risky Those Using Words I Can

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I don't want to make public statements about issues that I have not studied in detail.

~Eric Maskin

Topics: About Detail Issues Make Public Statements Studied Want

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When a bank calls in a loan, it obviously hurts the customer in question. But it also adversely affects other banks that have lent to this borrower. They are now less likely to be repaid and so can't as readily lend to their own customers.

~Eric Maskin

Topics: Affects Also Bank Banks Borrower Calls Customer Customers Hurts Lend Lent Less Likely Loan Now Obviously Other Own Question Readily

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If banks anticipate government will come to the rescue should the credit market go badly awry, they may make loans that would otherwise be imprudent, e.g. subprime loans with little prospect of repayment.

~Eric Maskin

Topics: Anticipate Badly Banks Come Credit Go Government Little Loans Make Market May Otherwise Prospect Rescue Should Will Would

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A contingent bailout policy - implicit or explicit - must be coupled with some regulation of what banks can and cannot do. For example, a ban on lending to uncreditworthy customers might well make sense.

~Eric Maskin

Topics: Bailout Ban Banks Cannot Contingent Coupled Customers Example Explicit For Example Implicit Lending Make Might Must Policy Regulation Sense Some Well

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In an industry with highly sequential innovation, it may be better for society to scrap patents altogether than try to tighten them.

~Eric Maskin

Topics: Altogether Better Highly Industry Innovation May Patents Scrap Society Than Them Tighten Try

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The market doesn't work very well when it comes to public goods.

~Eric Maskin

Topics: Goods Market Public Very Well Work

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If I buy a car, I use the car, you don't, and the market for cars works pretty well. But there are many other sorts of goods, often very important goods, which are not provided well through the market. Often, these go under the heading of public goods.

~Eric Maskin

Topics: Buy Car Go Goods Heading Important Many Market Often Other Pretty Provided Public Sort Through Use Very Well Which Works You

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How do we ensure in the case of public goods that they are provided at all, and that they are provided at the right level, taking into account citizens' preferences?

~Eric Maskin

Topics: Account Case Citizens Ensure Goods How Level Preferences Provided Public Right Taking

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The Nobel Prize is not very important for the winners - they are usually pretty successful people already. But it is valuable as a way of drawing the public's attention to important work in economics.

~Eric Maskin

Topics: Attention Drawing Economics Important Important Work Nobel Nobel Prize People Pretty Prize Public Successful Successful People Valuable Very Way Winners Work

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Biography

Nationality: American

Type: Economist

Born: December 12th, 1950

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