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Economic Theories Of Harsanyi, Nash, Selten, Fogel, And North
Part 1 of Paper
.... Douglass C. North, made an abundant progress in the Economic Sciences in America and the economy. For these great accomplishments, these five were awarded the Noble Peace Prize in Economic Sciences in 1994(Harsanyi, Nash, Selten), and 1993(Forgel, North).
The three economists who was awarded the Noble Peace Prize in .... Part 2 of Paper
....om homely games like chess and poker had exemplified universal application to economic situations in which the participants had the power to anticipate and affect other participants' actions. Harsanyi stated "it is a theory of strategic interactions...of rational behavior in social situations in which each player has to choose his moves on the basis of what he thinks the other players' counter moves are likely to be"
Economists did not have an immediate success in applying their insights to a f.... |
| Number of words: 1404 - Approximate pages: 6 |
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