MAURICE ALLAIS

French economist and first French citizen to receive Nobel Prize in Economics award in 1988 for his research on market equilibrium and efficiency, as well as his contribution on understanding market behavior and effective use of resources. Born in 1911, he was awarded the Gold Medal of the National Center for Scientific Research, a prestigious award in France. Also, he developed methods that state-owned monopolies could utilize in setting prices, and discovered and resolved Allais paradox that explains public’s risk management behavior.