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Arrow's impossibility theorem, the general possibility theorem or Arrow's paradox is an impossibility theorem in social choice theory that states that when voters have three or more distinct alternatives (options), no ranked voting electoral system can convert the ranked preferences of individuals into a community-wide ranking while also meeting the specified set of criteria: unrestricted domain, non-dictatorship, Pareto efficiency, and independence of irrelevant alternatives. The theorem is often cited in discussions of voting theory as it is further interpreted by the Gibbard–Satterthwaite theorem. The theorem is named after economist and Nobel laureate Kenneth Arrow, who demonstrated the theorem in his doctoral thesis and popularized it in his 1951 book Social Choice and Individual Values. The original paper was titled "A Difficulty in the Concept of Social Welfare".
John Forbes Nash, Jr., known and published as John Nash, was an American mathematician who made fundamental contributions to game theory, real algebraic geometry, differential geometry, and partial differential equations. Nash and fellow game theorists John Harsanyi and Reinhard Selten were awarded the 1994 Nobel Memorial Prize in Economics. In 2015, he and Louis Nirenberg were awarded the Abel Prize for their contributions to the field of partial differential equations.
Lloyd Stowell Shapley was an American mathematician and Nobel Memorial Prize-winning economist. He contributed to the fields of mathematical economics and especially game theory. Shapley is generally considered one of the most important contributors to the development of game theory since the work of von Neumann and Morgenstern. With Alvin E. Roth, Shapley won the 2012 Nobel Memorial Prize in Economic Sciences "for the theory of stable allocations and the practice of market design."
Nancy Laura Stokey has been the Frederick Henry Prince Distinguished Service Professor of Economics at the University of Chicago since 1990 and focuses particularly on mathematical economics while recently conducting research about Growth Theory, economic dynamics, and fiscal/monetary policy. She earned her BA in economics from the University of Pennsylvania in 1972 and her PhD from Harvard University in 1978, under the direction of thesis advisor Kenneth Arrow. She is a Fellow of the Econometric Society, the American Academy of Arts and Sciences and the National Academy of Sciences. She previously served as a co editor of Econometrica and was a member of the Expert Panel of the Copenhagen Consensus. She received her Honorary Doctor of Laws (L.L.D) in 2012 from the University of Western Ontario.
A non-cooperative game is a form of game under the topic of game theory. Non-cooperative games are used in situations where there are competition between the players of the game. In this model, there are no external rules that enforces the cooperation of the players therefore it is typically used to model a competitive environment. This is stated in various accounts most prominent being John Nash's paper.
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Abraham Neyman is an Israeli mathematician and game theorist, Professor of Mathematics at the Federmann Center for the Study of Rationality and the Einstein Institute of Mathematics at the Hebrew University of Jerusalem in Israel. He served as president of the Israeli Chapter of the Game Theory Society (2014–2018).
Hervé Moulin is a French mathematician who is the Donald J. Robertson Chair of Economics at the Adam Smith Business School at the University of Glasgow. He is known for his research contributions in mathematical economics, in particular in the fields of mechanism design, social choice, game theory and fair division. He has written five books and over 100 peer-reviewed articles.
The Prize in Game Theory and Computer Science in Honour of Ehud Kalai is an award given by the Game Theory Society. The prize is awarded for outstanding articles at the interface of game theory and computer science. Following the eligibility rules of the Gödel Prize, preference is given to authors who are 45 years old or younger at the time of the award. It was established in 2008 by a donation from Yoav Shoham in honor of the Ehud Kalai's contributions in bridging these two fields.
References
- ↑ Julio González-Díaz, Ignacio García-Jurado, M. Gloria Fiestras-Janeiro. An Introductory Course on Mathematical Game Theory. American Mathematical Society. 2021. p. 13. ISBN 978-1-4704-6573-5.
- ↑ Steven J. Brams (2009). Mathematics and Democracy: Designing Better Voting and Fair-Division Procedures. Princeton University Press. p. 105. ISBN 978-1-4008-3559-1.
- ↑ "Ehud Kalai - Faculty". Kellogg School of Management. Retrieved October 17, 2022.
- ↑ "Games 2012-Game Theory World Congress". İstanbul Bilgi University. July 10, 2012.
- ↑ "About Game Theory Society". www.gametheorysociety.org. Archived from the original on October 17, 2016.
