Wednesday, October 12, 2005

NOBEL LAUREATES

Robert J. Aumann (75) and Thomas C. Schelling (84) won the Nobel Memorial Prize in Economic Science (Monday, October 10, 2005) for their work in game theory, which explains the choices that competitors make in situations that require strategic thinking.

Their work has helped to illuminate the dynamics in labor negotiations, business transactions and arms negotiations, among other situations. An article that Thomas Crombie Schelling wrote prompted the director Stanley Kubrick to make the movie "Dr. Strangelove," consulting with Mr. Schelling during the filming.

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