Nobel Prize in Economic Sciences - Repeated Games

International Awards

Prof. Yisrael Aumann
The Hebrew University of Jerusalem

The researcher investigated situations of ongoing interaction – “repeated games”. He showed that social phenomena like trust, cooperation, altruism, punishment, revenge and threats – which may at fi­rst appear irrational – can be understood in terms of the usual “selfish” paradigm of accepted economic theory. For his research in this and related areas, Prof. Aumann shared in the 2005 prize in Economic Sciences in Memory of Alfred Nobel.