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A beautiful theory

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Abstract

It wasn?t A Beautiful Mind?the book or the movie?that made John Forbes Nash, Jr., famous. It was his work in game theory, a theory that models strategic interactions between people as games. Before Nash, the only games theorists could get a handle on were artificial ones with no real-world applications. Nash?s insights enabled economists to expand the use of game theory to interesting practical problems.

Suggested Citation

  • Ed Nosal & Peter Rupert, 2002. "A beautiful theory," Economic Commentary, Federal Reserve Bank of Cleveland, issue Apr.
    • Handle: RePEc:fip:fedcec:y:2002:i:apr15
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    Keywords

    Game theory;

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