"In principle, every social situation involves strategic interaction among the participants. Thus, one might argue that proper understanding of any social situation would require game-theoretic analysis. But in actual fact, classical economic theory did manage to sidestep the game-theoretic aspects of economic behavior by postulating perfect competition, i.e., by assuming that every buyer and every seller is very small as compared with the size of the relevant markets, so that nobody can significantly affect the existing market prices by his actions."
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Former Roman CatholicsPeople from BudapestNobel laureates in EconomicsEconomists from HungaryNobel laureates from Hungary
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John Harsanyi
1920 – 2000
John Charles Harsanyi (May 29, 1920 – August 9, 2000) was a Hungarian economist, best known for his contributions to the study of game theory and economic reasoning in political and moral philosophy as well as contributing to the study of equilibrium selection. For his work, he was a co-recipient along with John Nash and Reinhard Selten of the 1994 Nobel Memorial Prize in Economics.
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