France
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Maurice Allais
Paris, France
Archival Overview
French polymath and economist awarded the 1988 Nobel Memorial Prize in Economic Sciences for his pioneering contributions to the theory of markets and efficient utilization of resources.
Biographical Record
Maurice Allais graduated from the École Polytechnique in Paris and worked as an engineer in the French state mining corps. Witnessing the devastating Great Depression during a visit to the United States in 1933 inspired his lifelong mission to understand macroeconomic equilibrium and social justice.
In 1953, he formulated the famous 'Allais paradox', a cornerstone of behavioral economics showing that human decision-makers systematically violate the expected utility hypothesis under conditions of risk. Beyond economics, Allais conducted meticulous physical experiments on pendulums and gravitation, documenting anomalous behavior during solar eclipses known as the Allais effect.
Key Life Milestones
Formulation of the Allais Paradox
Disproved traditional expected utility theory in risk choices, anticipating behavioral economics by decades.
Nobel Memorial Prize in Economic Sciences
Recognized for his foundational contributions to market theory and the rigorous mathematical analysis of general economic equilibrium.
Memorial Guestbook & Tributes
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Final Resting Place
Perpetual MemorialSaint-Cloud, France