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Home  »  Russia  »  Economics

Nobel Prize for explaining the price and trade wars.

Now known Nobel Prize in economics. Prizes awarded to scientists from the Israeli scholar Robert Oman and the United States, Thomas Schelling.

"Nobel" they were "for his contribution to the understanding of conflict and cooperation through game theory analysis", announced in Stockholm on Monday, ITAR-TASS news agency.

"Why are some groups of people, organizations and countries succeed in cooperation, while others suffer from constant conflict? Studies Robert Oman and Thomas Schelling game theory - or dialogue -- used as the main approach to address this issue, "- says in a press release issued at the site of the Nobel Prize.

Thomas Schelling used game theory, giving the opportunity to make rational decisions in a lack of information about the possible implications, as the basis for unification, and social science research in his book "The Strategy of Conflict", published in 50 of the last century in terms of an arms race.

In his book, Schelling showed that the ability to respond can sometimes be more useful than the ability to withstand an attack, or that the possible unknown retribution often better than the famous neotvratimoe retaliation.

This book examines the possibility of strategic conflict and ways to avoid war, but its findings could explain the wide range of phenomena in the economy and the competitiveness of enterprises.

Robert Oman, in turn, has devoted his studies to explore the theory of infinite repeated games or how you can maintain some results in the relationship for a long period of time. Research Omanna based on the idea that cooperation in many cases easier to install in the long-term stable relationship.

studies aim to explain economic conflicts such as price and trade wars, the disclosure of the mechanism of negotiations in various settings - from the requirements of the wage increases until the conclusion of international trade agreements.

Nobel Prize in economics awarded the Royal Swedish Academy of Sciences. Prize amount is 10 million Swedish kronor (about $ 1,2 million), also award a medal and a diploma. The monetary part of the prize will be divided equally between the two laureates.

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