Game Theorists Share Nobel Prize
Thomas Schelling and Robert Aumann have won the 2005 Nobel prize in economics for their work in game theory:
Professor Aumann’s work has centred on a different element of game theory, the question of whether co-operation increases if games are continually repeated.
He showed that co-operation is less likely when there are many participants, when interactions are infrequent, when the time horizon is short or when others’ actions cannot be clearly observed.
“I think game theory creates ideas that are important in solving and approaching conflict in general,” [Aumann] added.
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