Game theory is the study of mathematical models of strategic interactions. It has applications in many fields of social science, and is used extensively in economics, logic, systems science and computer science. Initially, game theory addressed two-person zero-sum games, in which a participant's gains or losses are exactly balanced by the losses and gains of the other participant. In the 1950s, it was extended to the study of non zero-sum games, and was eventually applied to a wide range of behavioral relations. It is now an umbrella term for the science of rational decision making in humans, animals, and computers.
Behavioral economics is the study of the psychological factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory.
Paul Anthony Samuelson was an American economist who was the first American to win the Nobel Memorial Prize in Economic Sciences. When awarding the prize in 1970, the Swedish Royal Academies stated that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory".
John Charles Harsanyi was a Hungarian-American economist who spent most of his career at the University of California, Berkeley. He was the recipient of the Nobel Memorial Prize in Economic Sciences in 1994.
The ultimatum game is a game that has become a popular instrument of economic experiments. An early description is by Nobel laureate John Harsanyi in 1961. One player, the proposer, is endowed with a sum of money. The proposer is tasked with splitting it with another player, the responder. Once the proposer communicates their decision, the responder may accept it or reject it. If the responder accepts, the money is split per the proposal; if the responder rejects, both players receive nothing. Both players know in advance the consequences of the responder accepting or rejecting the offer.
Ariel Rubinstein is an Israeli economist who works in economic theory, game theory and bounded rationality.
Philosophy and economics studies topics such as public economics, behavioural economics, rationality, justice, history of economic thought, rational choice, the appraisal of economic outcomes, institutions and processes, the status of highly idealized economic models, the ontology of economic phenomena and the possibilities of acquiring knowledge of them.
John Broome is a British philosopher and economist. He is emeritus White's Professor of Moral Philosophy at the University of Oxford and emeritus Fellow of Corpus Christi College, Oxford.
Economic methodology is the study of methods, especially the scientific method, in relation to economics, including principles underlying economic reasoning. In contemporary English, 'methodology' may reference theoretical or systematic aspects of a method. Philosophy and economics also takes up methodology at the intersection of the two subjects.
Kaushik Basu is an Indian economist who was Chief Economist of the World Bank from 2012 to 2016 and Chief Economic Adviser to the Government of India from 2009 to 2012. He is the C. Marks Professor of International Studies and Professor of Economics at Cornell University, and academic advisory board member of upcoming Plaksha University. He began a three-year term as President of the International Economic Association in June 2017. From 2009 to 2012, during the United Progressive Alliance's second term, Basu served as the Chief Economic Adviser to the Government of India. Basu is winner of the Humboldt Research Award 2021.
Paul David Klemperer FBA is an economist and the Edgeworth Professor of Economics at the Department of Economics, Oxford University. He is a member of the Klemperer family. He works on industrial economics, competition policy, auction theory, and climate change economics and policy.
Alvin Eliot Roth is an American academic. He is the Craig and Susan McCaw professor of economics at Stanford University and the Gund professor of economics and business administration emeritus at Harvard University. He was President of the American Economic Association in 2017.
Herbert Gintis was an American economist, behavioral scientist, and educator known for his theoretical contributions to sociobiology, especially altruism, cooperation, epistemic game theory, gene-culture coevolution, efficiency wages, strong reciprocity, and human capital theory. Throughout his career, he worked extensively with economist Samuel Bowles. Their landmark book, Schooling in Capitalist America, had multiple editions in five languages since it was first published in 1976. Their book, A Cooperative Species: Human Reciprocity and its Evolution was published by Princeton University Press in 2011.
Ehud Kalai is a prominent Israeli American game theorist and mathematical economist known for his contributions to the field of game theory and its interface with economics, social choice, computer science and operations research. He was the James J. O’Connor Distinguished Professor of Decision and Game Sciences at Northwestern University, 1975–2017, and currently is a Professor Emeritus of Managerial Economics and Decision Sciences.
Robert Sugden, FBA is an English author in the area of cognitive and behavioural economics. Professor Sugden's research combines game theory with moral and political philosophy. He is associated with the classical-liberal tradition of Hume, Mill, and Hayek.
Eric Eleterius Coralie van Damme is a Dutch economist and Professor of Economics at the Tilburg University, known for his contributions to game theory.
Abhinay Muthoo is currently a Research Lead and Fellow at the National Institute of Economic and Social Research (NIESR), a visiting professor at the Meghnad Desai Academy of Economics (MDAE), and Lead Academic of the UK Cross Parliamentary Party Youth Violence Commission.
Werner Güth is a German economist who, together with Rolf Schmittberger and Bernd Schwarze, first described the ultimatum game. He is currently Emeritus Director at the Max Planck Institute for Research on Collective Goods.
Vincent P. Crawford is an American economist. He is a senior research fellow at the University of Oxford, following his tenure as Drummond Professor of Political Economy from 2010 to 2020. He is also research professor at the University of California, San Diego.
Zvi Safra is an Israeli and British economist and decision theorist. Safra is a professor at the Warwick Business School at the University of Warwick an emeritus professor at the Coller School of Management at Tel Aviv University. Safra is an editor at the Journal of Economics and Philosophy and an elected fellow of the Society for the Advancement of Economic Theory. Safra was formerly a Vice-Chancellor at the Israeli College of Management Academic Studies.
