This article needs additional citations for verification . (December 2015) (Learn how and when to remove this template message)
This is a list of notable economists, mathematicians, political scientists, and computer scientists whose work has added substantially to the field of game theory. For a list of people in the field of video games rather than game theory, please see list of ludologists.
An evolutionarily stable strategy (ESS) is a strategy which, if adopted by a population in a given environment, is impenetrable, meaning that it cannot be invaded by any alternative strategy that are initially rare. It is relevant in game theory, behavioural ecology, and evolutionary psychology. An ESS is an equilibrium refinement of the Nash equilibrium. It is a Nash equilibrium that is "evolutionarily" stable: once it is fixed in a population, natural selection alone is sufficient to prevent alternative (mutant) strategies from invading successfully. The theory is not intended to deal with the possibility of gross external changes to the environment that bring new selective forces to bear.
Game theory is the study of mathematical models of strategic interaction among rational decision-makers. It has applications in all fields of social science, as well as in logic, systems science and computer science. Originally, it addressed zero-sum games, in which each participant's gains or losses are exactly balanced by those of the other participants. Today, game theory applies to a wide range of behavioral relations, and is now an umbrella term for the science of logical decision making in humans, animals, and computers.
In game theory, the Nash equilibrium, named after the mathematician John Forbes Nash Jr., is a proposed solution of a non-cooperative game involving two or more players in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only their own strategy.
This aims to be a complete article list of economics topics:
John Forbes Nash Jr. was an American mathematician who made fundamental contributions to game theory, differential geometry, and the study of partial differential equations. Nash's work has provided insight into the factors that govern chance and decision-making inside complex systems found in everyday life.
The Stockholm School, is a school of economic thought. It refers to a loosely organized group of Swedish economists that worked together, in Stockholm, Sweden primarily in the 1930s.
Bargaining or haggling is a type of negotiation in which the buyer and seller of a good or service debate the price and exact nature of a transaction. If the bargaining produces agreement on terms, the transaction takes place. Bargaining is an alternative pricing strategy to fixed prices. Optimally, if it costs the retailer nothing to engage and allow bargaining, they can deduce the buyer's willingness to spend. It allows for capturing more consumer surplus as it allows price discrimination, a process whereby a seller can charge a higher price to one buyer who is more eager. Haggling has largely disappeared in parts of the world where the cost to haggle exceeds the gain to retailers for most common retail items. However, for expensive goods sold to uninformed buyers such as automobiles, bargaining can remain commonplace.
Gérard Debreu was a French-born economist and mathematician. Best known as a professor of economics at the University of California, Berkeley, where he began work in 1962, he won the 1983 Nobel Memorial Prize in Economic Sciences.
Lloyd Stowell Shapley was an American mathematician and Nobel 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."
David Gale was an American mathematician and economist. He was a professor emeritus at the University of California, Berkeley, affiliated with the departments of mathematics, economics, and industrial engineering and operations research. He has contributed to the fields of mathematical economics, game theory, and convex analysis.
Robert John Aumann is an Israeli-American mathematician, and a member of the United States National Academy of Sciences. He is a professor at the Center for the Study of Rationality in the Hebrew University of Jerusalem in Israel. He also holds a visiting position at Stony Brook University, and is one of the founding members of the Stony Brook Center for Game Theory.
In game theory, folk theorems are a class of theorems about possible Nash equilibrium payoff profiles in repeated games. The original Folk Theorem concerned the payoffs of all the Nash equilibria of an infinitely repeated game. This result was called the Folk Theorem because it was widely known among game theorists in the 1950s, even though no one had published it. Friedman's (1971) Theorem concerns the payoffs of certain subgame-perfect Nash equilibria (SPE) of an infinitely repeated game, and so strengthens the original Folk Theorem by using a stronger equilibrium concept subgame-perfect Nash equilibria rather than Nash equilibrium.
Kenneth George "Ken" Binmore, is a British mathematician, economist, and game theorist. He is a Professor Emeritus of Economics at University College London (UCL) and a Visiting Emeritus Professor of Economics at the University of Bristol.
Hobart Peyton Young is an American game theorist and economist known for his contributions to evolutionary game theory and its application to the study of institutional and technological change, as well as the theory of learning in games. He is currently centennial professor at the London School of Economics, James Meade Professor of Economics Emeritus at the University of Oxford, professorial fellow at Nuffield College Oxford, and research principal at the Office of Financial Research at the U.S. Department of the Treasury.
The Bondareva–Shapley theorem, in game theory, describes a necessary and sufficient condition for the non-emptiness of the core of a cooperative game in characteristic function form. Specifically, the game's core is non-empty if and only if the game is balanced. The Bondareva–Shapley theorem implies that market games and convex games have non-empty cores. The theorem was formulated independently by Olga Bondareva and Lloyd Shapley in the 1960s.
Roger Bruce Myerson is an American economist and professor at the University of Chicago. He holds the title of the David L. Pearson Distinguished Service Professor of Global Conflict Studies at The Pearson Institute for the Study and Resolution of Global Conflicts in the Harris School of Public Policy, the Griffin Department of Economics, and the College. Previously, he held the title The Glen A. Lloyd Distinguished Service Professor of Economics. In 2007, he was the winner of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel with Leonid Hurwicz and Eric Maskin for "having laid the foundations of mechanism design theory." He was elected a Member of the American Philosophical Society in 2019.
Alvin Elliot 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 Economics Association in 2017.
The Nobel Memorial Prize in Economic Sciences, commonly referred to as the Nobel Prize in Economics, is an award for outstanding contributions to the field of economics, and generally regarded as the most prestigious award for that field. The award's official name is The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
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.
Constantinos Daskalakis is a Greek theoretical computer scientist. He is a professor at MIT's Electrical Engineering and Computer Science department and a member of the MIT Computer Science and Artificial Intelligence Laboratory. He was awarded the Rolf Nevanlinna Prize and the Grace Murray Hopper Award in 2018.