“The theory of repeated games is able to account for phenomena such as altruism, cooperation, trust, loyalty, revenge, threats (self-destructive or otherwise) – phenomena that may at first seem irrational – in terms of the “selfish” utility-maximizing paradigm of game theory and neoclassical economics.”

—  Robert Aumann

Source: War and peace (2005), p. 3

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "The theory of repeated games is able to account for phenomena such as altruism, cooperation, trust, loyalty, revenge, t…" by Robert Aumann?
Robert Aumann photo
Robert Aumann16
Israeli-American mathematician 1930

Related quotes

William Whewell photo

“It is a test of true theories not only to account for but to predict phenomena.”

William Whewell (1794–1866) English philosopher & historian of science

Aphorism 39.
Philosophy of the Inductive Sciences (1840)

Tjalling Koopmans photo

“Econometrics may be defined as the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference.”

Tjalling Koopmans (1910–1985) Dutch American economist

Paul Samuelson, Tjalling Koopmans, and Richard Stone. "Report of the evaluative committee for Econometrica." Econometrica- journal of the Econometric Society. (1954): 141-146.

“Econometrics may be defined as the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference.”

Richard Stone (1913–1991) British economist, Nobel Memorial Prize winner

Paul Samuelson, Tjalling Koopmans, and Richard Stone. "Report of the evaluative committee for Econometrica." Econometrica- journal of the Econometric Society. (1954): 141-146.

Paul A. Samuelson photo

“Econometrics may be defined as the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference.”

Paul A. Samuelson (1915–2009) American economist

Paul Samuelson, Tjalling Koopmans, and Richard Stone. "Report of the evaluative committee for Econometrica." Econometrica- journal of the Econometric Society. (1954): 141-146.
1950s–1970s

Reinhard Selten photo

“In 1965, I was invited to a game theory workshop at Jerusalem which lasted for three weeks and had only 17 participants, but among them all the important researchers in game theory, with few exceptions. Game theory was still a small field. We had heated discussions about Harsanyi's new theory of games with incomplete information. This was the beginning of my long cooperation with John C. Harsanyi.”

Reinhard Selten (1930–2016) German economist

"Reinhard Selten - Biographical," 1994

Albert Einstein photo

“It appears dubious whether a field theory can account for the atomistic structure of matter and radiation as well as of quantum phenomena.”

Albert Einstein (1879–1955) German-born physicist and founder of the theory of relativity

(1955) as quoted in Some strangeness in the proportion: a centennial symposium to celebrate the achievements of Albert Einstein (1980) Addison-Wesley Pub. Co., Advanced Book Program.
1950s

Richard von Mises photo

“In games of chance, in the problems of insurance, and in the molecular processes we find events repeating themselves again and again. They are mass phenomena or repetitive events.”

Richard von Mises (1883–1953) Austrian physicist and mathematician

First Lecture, The Definition of Probability, p. 10
Probability, Statistics And Truth - Second Revised English Edition - (1957)

“Evolutionary game theory is one of the most active and rapidly growing areas of research in economics. Unlike traditional game theory models, which assume that all players are fully rational and have complete knowledge of details of the game, evolutionary models assume that people choose their strategies through a trial-and-error learning process in which they gradually discover that some strategies work better than others. In games that are repeated many times, low-payoff strategies tend to be weeded out, and an equilibrium may emerge.”

Larry Samuelson (1953) American economist

Larry Samuelson. Evolutionary Games and Equilibrium Selection. 1997. Overview.

Jan Tinbergen photo

“The advantages of models are, on one hand, that they force us to present a "complete" theory by which I mean a theory taking into account all relevant phenomena and relations and, on the other hand, the confrontation with observation, that is, reality.”

Jan Tinbergen (1903–1994) Dutch economist

"The Use of Models: Experience," 1969

Wilhelm Reich photo

“Scientific theory is a contrived foothold in the chaos of living phenomena.”

Wilhelm Reich (1897–1957) Austrian-American psychoanalyst

Source: The Function of the Orgasm (1927), Ch. II : Peer Gynt

Related topics