Lloyd S. Shapley
One of the most important contributors to the development of game theory.
"Shapley recognized that money is not essential to a market, because economics is about maximizing welfare, not about gross domestic product. "
https://www.rand.org/news/press/2016/03/14.htmlA time line of Lloyd Shapley's life:
- 1923 Born in Cambridge, Massachusetts
- 1943 Drafted, into the United States Army Corps.
- 1944 Army Air Corps, assigned to a secret air base in western China, a weather station which not only made weather observations, it also intercepted broadcasts.
- 1948 After the war, Shapley returned to Harvard and graduated with an A.B. in mathematics in 1948.
- 1954 to 1981 RAND had an open mission. It was set up by the Air Force to keep in contact with the scientific community, to get scientists to see and solve problems before a war made the solutions urgent.
- 1950 While a graduate student, Shapley invented the board game So Long Sucker.
- 1951 He introduced Shapley value. There he proposed that it might be possible to evaluate, in a numerical way, the “value” of playing a game. The particular function he derived for this purpose, which has come to be called the Shapley value, has been the focus of sustained interest among students of cooperative game theory ever since.
- 1953 Shapley went to Princeton University where he received a Ph.D.
- 1954 to 1981 RAND was set up by the Air Force, to see and solve problems before a war made the solutions urgent.
- 1962 Wrote College Admissions and the Stability of Marriage
- 1967 Fellow, Econometric Society
- 1974 Fellow, American Academy of Arts and Sciences
- 1978 Member, National Academy of Sciences
- 1981-2016 Shapley was a professor at the University of California, Los Angeles.
- 1986 Honorary Ph.D., Hebrew University of Jerusalem
- 2002 Institute for Operations Research and the Management Sciences
- 2012He received the Nobel Peace Prize in conjunction with Alvin E. Roth
- 2013 Receives Golden Goose Award
- 2016 Passed away in Tucson, Arizona (aged 92)
"The greatest game theorist of all time."
Robert Aumann