At 95, Thomas Schelling died, 2005 Nobel Prize in Economics and Contributor to Game Theory as an Academic Discipline and tool in Strategic Studies

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At 95, Thomas Schelling died, 2005 Nobel Prize in Economics and Contributor to Game Theory as an Academic Discipline and tool in Strategic Studies

December 15, 2016 by 2012pharmaceutical

At 95, Thomas Schelling died, 2005 Nobel Prize in Economics and Contributor to Game Theory as an Academic Discipline and tool in Strategic Studies

Reporter: Aviva Lev-Ari, PhD, RN

Article ID #225: At 95, Thomas Schelling died, 2005 Nobel Prize in Economics and Contributor to Game Theory as an Academic Discipline and tool in Strategic Studies. Published on 12/15/2016

WordCloud Image Produced by Adam Tubman

Thomas Schelling’s Lecture in 12/2005 – Nobel Prize Laureate in Economics

http://www.nobelprize.org/mediaplayer/index.php?id=626

Thomas C. Schelling – Facts

Photo: T. Zadig

Thomas C. Schelling

Born: 14 April 1921, Oakland, CA, USA

Died: 13 December 2016, Bethesda, MD, USA

Affiliation at the time of the award: University of Maryland, Department of Economics and School of Public Policy, College Park, MD, USA

Prize motivation: “for having enhanced our understanding of conflict and cooperation through game-theory analysis”

Field: game theory

Contribution: A creative application of game theory to important social, political and economic problems. Showed that a party can strengthen its position by overtly worsening its own options, that the capability to retaliate can be more useful than the ability to resist an attack, and that uncertain retaliation is more credible and more efficient than certain retaliation. These insights have proven to be of great relevance for conflict resolution and efforts to avoid war.

Prize share: 1/2