Nobel Prize Lecture, December 8, 2005

People have difficulty governing certain of their own behaviors, and employ strategies to constrain future choices. These efforts can be interpreted as rational attempts to cope with some foreseeable lapse from full rationality. The philosophy literature and a small amount of recent economics...

To a practitioner in the social sciences, game theory primarily helps to identify <italic>situations</italic> in which interdependent decisions are somehow problematic; <italic>solutions</italic> often require venturing into the social sciences. Game theory is usually about <italic>anticipating</italic> each other's choices; it can also cope with...