The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1994
John C. Harsanyi, John F. Nash Jr., Reinhard Selten
John F. Nash Jr.
Born: 13 June 1928, Bluefield, WV, USA
Affiliation at the time of the award: Princeton University, Princeton, NJ, USA
Prize motivation: "for their pioneering analysis of equilibria in the theory of non-cooperative games"
Field: game theory
Contribution: Introduced the distinction between cooperative games, in which binding agreements can be made, and non-cooperative games, where binding agreements are not feasible. Developed an equilibrium concept for non-cooperative games that now is called Nash equilibrium.