Maurice Allais

Date of Birth: May 31, 1911

Zodiac Sign: Gemini

Date of Death: October 9, 2010

Biography

Maurice Félix Charles Allais was a renowned French economist born on May 31, 1911, in Paris, France. He made significant contributions to the fields of economics and physics, earning the Nobel Memorial Prize in Economic Sciences in 1988 for his pioneering contributions to the theory of markets and efficient utilization of resources. Allais was educated at the prestigious École Polytechnique and later at the École Nationale Supérieure des Mines de Paris, where he began his career as a mining engineer. During World War II, Allais’ work focused on developing models for economic equilibrium and capital theory, which later influenced his Nobel-winning research. His notable works include “A la Recherche d’une Discipline Économique” and “Économie et Intérêt.” Allais’ theories often drew from his understanding of physics, making his approach to economics both unique and innovative. Throughout his career, Allais also held several academic positions, including a professorship at the École Nationale Supérieure des Mines de Paris. He was an advocate for free markets but also emphasized the importance of regulation to prevent monopolies and ensure fair competition. Maurice Allais passed away on October 9, 2010, leaving behind a rich legacy that continues to influence economic thought and policy.

5 Interesting Facts about Maurice Allais

1. Maurice Allais was not only an economist but also a physicist, and his work often bridged the two fields.

2. He received the Nobel Memorial Prize in Economic Sciences in 1988.

3. Allais developed the “Allais paradox,” a well-known decision theory problem that highlights inconsistencies in expected utility theory.

4. He was a strong advocate for economic models that included more realistic assumptions about human behavior.

5. In addition to his theoretical work, Allais was also a practical economist who contributed to the development of France’s post-war economic policy.