Udo Broll
Nobel Prize for Economics 2005
Journal of European Economy, Volume 5, Issue 1, March 2006, pp. 77-79
| JEL: Y50 |
Full text (PDF) |
The 2005 Nobel Prize for Economics has been awarded to Thomas Schelling and Robert Aumann. The Swedish Academy of Science has awarded them the prize for their work on conflict and cooperation in game theory. Thomas Schelling, who was born on April 14th, 1921, in Oakland, California (USA), teaches at the Department of Economics and School of Public Policy, at the University of Maryland. Since the mid-1950s, Schelling has been applying game theories to global security and arms races. His best-known book is the 'The Strategy of Conflict' (1960). The mathematician Robert Aumann was born on June 8th, 1930, in Frankfurt am Main (Germany). In 1938 he fled with his family from Germany to the USA. Since 1956 he has been living in Israel. He teaches at the Center for Rationality at the Hebrew University in Jerusalem. Robert Aumann has provided significant contributions to cooperative game theory. He has also defined the concept of super-game, a situation which arises when setting prices on global financial markets with many market participants. |
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