Simplify the following text for a Grade 15 native English-speaking person.
Original: In October 2007 , Hurwicz shared The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel with Eric Maskin of the Institute for Advanced Study and Roger Myerson of the University of Chicago `` for having laid the foundations of mechanism design theory . ''
Simplified: In October 2007 , Hurwicz shared the Nobel Memorial Prize in Economic Sciences with Eric Maskin of the Institute for Advanced Study and Roger Myerson of the University of Chicago `` for having laid the foundations of mechanism design theory . ''