The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1994
John C. Harsanyi, John F. Nash Jr., Reinhard Selten
Born: 5 October 1930, Breslau (now Wroclaw), Germany (now Poland)
Affiliation at the time of the award: Rheinische Friedrich-Wilhelms-Universität, Bonn, Federal Republic of Germany
Prize motivation: "for their pioneering analysis of equilibria in the theory of non-cooperative games"
Field: game theory
Contribution: Refined the Nash equilibrium concept for analyzing dynamic strategic interaction by getting rid of unlikely equilibria. He also applied the refined concept to analyses of oligopolistic competition.