October 10, 2005

Israeli, U.S. economists win Nobel for “game theory”

STOCKHOLM (Reuters) - Israel's Robert Aumann and American
Thomas Schelling won the 2005 Nobel economics prize on Monday
for their "game-theory analysis," which can help resolve
conflicts in trade and business -- and even avoid war.

Their studies have found uses in "security and disarmament
policies, price formation on markets, as well as economic and
political negotiations," said the Royal Swedish Academy of
Sciences awarding the 10 million crown ($1.3 million) prize.