What did this Prize mean?

Yes it is Thomas Schelling and Robert Aumann, wonderful picks.

The Nobel website says: "for having enhanced our understanding of conflict and cooperation through game-theory analysis."  Here is the NYT article, no permalink yet.  FoxNews offers similar information.  Both men clearly deserve the prize.  I view this year’s award as a welcome swing back to the philosophical, theoretical, and speculative dimensions of economics.  In recent years the Committee seems to have gone out of its way to reward the scientistic approach to economics (Heckman and McFadden, for instance).  All these earlier picks were good ones, but I am happy to see Schelling — a fruitful generalist if there ever was one — and Aumann, a deeply philosophical thinker, get the nod.  Aumann I don’t know personally, but there are few scholars I admire more than Thomas Schelling.


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