1994 Nobel Prize Economists: Contributions from Nash, Harsanyi and Selten to the Game Theory
Brazilian Journal of Political Economy, Vol. 15 No. 1 (1995), Jan-Mar / 1995, Pages 58-69
The paper tries to highlight the influence of the 1994 three Nobel prize winners
– J. Nash, R. Selten and J. Harsanyi on game theory as well as on economic theory. On the
basic of textbooks examples the paper may also serve as a brief introduction to game theory
itself. Some major concepts like Nash equilibrium, subgame-perfect equilibrium, trembling
hand equilibrium and Harsanyi’s transformation are introduced to show with some examples
the growing importance of game theory in modem economic theory.
JEL Classification: C70; B31.
Keywords: Nobel prize Game theory Nash Harsanyi Selten