Mathematicians have proposed models for situations involving several cooperative or non-cooperative players. The Nobel Memorial Prize in Economic Sciences was awarded in 1994 to Harsanyi, Nash and Selten for work performed in the 1950s and 1960s.
Thomas Schelling was not a mathematician but an American expert in political behavior. In his seminal book The Strategy of Conflicts published in 1960, he reorients the game theory into practical considerations, studying the impact of promises, threats, surprise attacks and mutual mistrust.
As advisor to several US presidents, he is particularly interested in the fact that nuclear deterrence actually leads to a balance of cooperation between antagonistic parties without increasing the risk of open conflict. The influence of his theories on the strategies of contemporary foreign policy is considerable, even if the press that reports events for the general public cannot appreciate it.
The Nobel Memorial Prize in Economic Sciences was awarded in 2005 to Aumann and Schelling. Schelling's Nobel medal and certificate are sold by Nate D. Sanders in an online auction ending on May 31, lot 1.
SOLD for $ 187K including premium