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Article: Nobel winners friends of behaviorial economics; Aumann, Schelling have influenced field with game theory modeling of major issues.
- Article from:
- Pensions & Investments
- Article date:
- October 17, 2005
- Author:
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Byline: Barry B. Burr
Robert J. Aumann and Thomas C. Schelling, winners of the Nobel Memorial Prize in Economic Sciences, were forerunners in behavioral economics, influencing it with their game theory modeling of major social issues, from international relations to competitive corporate relations.
"Oh, yes, I'm a friend of behavioral economics,'' Mr. Schelling said in an interview. "I approve of it.''
Mr. Schelling is professor emeritus of the Department of Economics and School of Public Policy, University of Maryland, College Park, and professor emeritus of political economy at Harvard University, Cambridge, Mass.
"A lot of what ...