Lloyd Shapley
| Lloyd Shapley | |
|---|---|
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Shapley in 1980
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| Born | Lloyd Stowell Shapley June 2, 1923 Cambridge, Massachusetts, U.S. |
| Died | March 12, 2016 (aged 92) Tucson, Arizona, U.S. |
| Residence | Pacific Palisades, California, U.S. |
| Nationality | American |
| Fields | Mathematics, economics |
| Institutions |
University of California, Los Angeles RAND Corporation Princeton University |
| Alma mater |
Princeton University Harvard University |
| Doctoral advisor | Albert W. Tucker |
| Doctoral students |
Mário Páscoa Shuntian Yao John Rulnick Raul Lejano Manel Baucells Alibes Xingwei Hu |
| Known for |
Shapley value Shapley–Shubik power index Bondareva–Shapley theorem Shapley–Folkman lemma & theorem Gale–Shapley algorithm potential game core, kernel and nucleolus market games authority distribution multi-person utility non-atomic games |
| Influences |
John von Neumann Martin Shubik Jon Folkman |
| Influenced |
Martin Shubik Jon Folkman |
| Notable awards |
Nobel Memorial Prize in Economic Sciences (2012) Golden Goose Award (2013) John von Neumann Theory Prize (1981) |
Lloyd Stowell Shapley (June 2, 1923 – March 12, 2016) was an American mathematician and Nobel Prize-winning economist. He contributed to the fields of mathematical economics and especially game theory.
Since the work of von Neumann and Morgenstern in 1940s, Shapley has been regarded by many experts as the very personification of game theory. With Alvin E. Roth, Shapley won the 2012 Nobel Memorial Prize in Economic Sciences "for the theory of stable allocations and the practice of market design."
Lloyd Shapley was born on June 2, 1923, in Cambridge, Massachusetts, one of the sons of Martha (Betz) and the distinguished astronomer Harlow Shapley, both from Missouri. He attended Phillips Exeter Academy and was a student at Harvard when he was drafted in 1943. He served in the United States Army Air Corps in Chengdu, China and received the Bronze Star decoration for breaking the Soviet weather code.
After the war, Shapley returned to Harvard and graduated with an A.B. in mathematics in 1948. After working for one year at the RAND Corporation, he went to Princeton University where he received a Ph.D. in 1953. His thesis and post-doctoral work introduced the Shapley value and the core solution in game theory. Shapley defined game theory as "a mathematical study of conflict and cooperation." After graduating, he remained at Princeton for a short time before going back to the RAND corporation from 1954 to 1981. In 1950, while a graduate student, Shapley invented the board game So Long Sucker, along with Mel Hausner, John Forbes Nash, and Martin Shubik. Israeli economist Robert Aumann said Shapley was "the greatest game theorist of all time."
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