Profit Division Among Privately-Informed Agents and Beyond
Game theory has been applied to a wide variety of situations in which the choices of players interact to affect the outcome.
In stressing the strategic aspects of decision making, or aspects controlled by the players rather than by pure chance, the theory both supplements and goes beyond the classical theory of probability. It has been used, for example, to determine what political coalitions or business conglomerates are likely to form, the optimal price at which to sell products or services in the face of competition, the power of a voter or a bloc of voters, whom to select for a jury, the best site for a manufacturing plant, and the behaviour of certain animals and plants in their struggle for survival. It has even been used to challenge the legality of certain voting systems.
Tuomas Sandholm, the Angel Jordan University Professor of computer science at Carnegie Mellon University, has been awarded the Alfred Kordelin Prize, one of Finland's most prestigious honors recognizing outstanding contributions to science, the arts and public education. The 50,000-euro award, presented annually by the Alfred Kordelin Foundation, honors individuals whose work advances Finnish society through innovation, diversity and international reach.
