2 share Nobel economics prize for game theory analysis
Afp, Stockholm
Robert J. Aumann, an Israeli-US citizen, and American Thomas C. Schelling yesterday won the 2005 Nobel Economics Prize for using game theory to explain conflict resolution, the Nobel jury said. Using game theory -- interactive decision scenarios -- the laureates focused on why some people and countries manage to cooperate, while others suffer from conflict. Their work has helped understand all kinds of conflict and cooperation, from trade fights, organized crime, political decisions and wage negotiations to outright shooting wars. American Schelling, now 84, produced his main work during the Cold War, which pitted the United States against the Soviet Union, when he used game theory methods to explain the era's most vital issues, global security and the arms race.
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