Scientific review article
Autor: Svetlana Pantelić
Summary: Abstract: 1994 Nobel Prize in Economics “for their pioneering analysis of equilibrium in the theory of non-cooperative games” was awarded to John Charles Harsanyi, John F. Nash, and Reinhard Selten. What these three Nobel Prize winners have in common is the field of economics they studied, as well as the hardships that they had undergone and successfully overcome during their lifetime. Selten won the Nobel Prize for his work on defining the concept of rational and irrational decisions in predicting the outcome of non-cooperative games. Also, he refined the Nash equilibrium concept of researching games which involve dynamic strategic interactions.