Our friend and colleague passed away on May 25, 2018 after a long illness that she faced with both courage and dignity.
She was a central figure of the Mathematical Economics community, inspiring us by her powerful intellectual agenda, sharp presence in academic gatherings, and irresistible enthusiasm for the reach of General Equilibrium analysis. Her PhD thesis on the core in production economies and its decentralization by marginal cost pricing attracted early attention, and her 1984 analysis of assignment economies is the first general existence result in economies with indivisible goods and money. But her most influential contribution is to the analysis of financial markets, to which, with her husband Michael Magill, she devoted a quarter century of her immense energy. This culminated in their 2008 book on the theory of Incomplete Markets, which is widely acknowledged as the best reference on the topic. The book combines mathematical rigor, formal elegance and accessibility to non-specialists. The most recent of Martine and Michael’s important contribution improves our understanding of the role of money in general equilibrium models with financial frictions. She was also a very talented lecturer and she had the ability to communicate complex ideas with passion, rigor, and clarity.
Martine studied at the Ecole Normale Superieure in Paris. She obtained her PhD in Mathematical Economics in 1986 and her Habilitation in 1988 at the University of Paris. Before her departure to the US in 1986, she taught in Aix, Marseille, and Paris and was Research Associate at the Ecole Polytechnique. In the US part of her career, she taught at the University of Southern California from 1986 to 1991 and at UC Davis from 1991 to her retirement in 2016, and she chaired the Economics Department there from 1995 to 1999.
She was a Fellow of the Econometric Society since 2000, and an Economic Theory Fellow since 2011. She served as an Associate Editor of Econometrica, Economic Theory, Journal of Mathematical Economics, and several other academic journals.
We already miss her and our thoughts go to her family and to Michael Magill, her long term partner in economics and life.
May 29, 2018
Bernard Cornet, Hervé Moulin, and Jean-Charles Rochet