Thomas C. Schelling
and an Robert J. Aumann
won the 2005 Nobel prize for economics
for their work on game theory
, which can explain and resolve trade and business conflicts, and even play a role in avoiding war. The Royal Swedish Academy of Sciences gave the 10 million crown prize to Thomas C. Schelling and Robert J. Aumann for a work that has found uses in "security and disarmament policies, price formation on markets, as well as economic and political negotiations." Aumanny
was born in Germany but is an Israeli and U.S. citizen who teaches at the Hebrew University of Jerusalem. Schelling
teaches at the University of Maryland. "Game theory" is the science of strategy and attempts to determine what actions different "players", such as trading partners, employers, unions or even organized crime groups, should take to secure the best outcome for themselves. Game theory work has won the Nobel before. John Nash
, whose life was portrayed in the movie A Beautiful Mind
, won the economics prize with two others in 1994.
"I think game theory creates ideas that are important in solving and approaching conflict in general"
Schelling told Reuters by telephone from his home in Maryland that he was glad to have his work recognized.
"I'm a student of cooperation and conflict, I'm not really a game theorist...I would not try very hard to make the case that what I do is economics,"
Schelling, whose career began with work on the U.S. Marshall Plan to help rebuild Europe after World War Two, has applied game theory to global security and the Cold War arms race. He has tried to explain how a taboo around nuclear weapons after the bombing of Hiroshima in 1945 itself became a factor in deterring their use after World War Two, even as both sides of the Cold War amassed big nuclear arsenals. Nobel rewards "game theory"
- They know how to win Nobels
- Washington Post
- Los Angeles Times
- noticias.info ::: Technorati ::: American, applied, Robert J. Aumann, disarmament, economics, game, Germany, Israeli, negociation, Nobel, player, politics, prize, Thomas C. Schelling, security, theory, trading ::: Sponsor ::: Pacific Poker: online Poker games, Up to 100$ Bonus