After the war, Shapley returned to Harvard and graduated with an A.B. in mathematics in 1948. After working for one year at the RAND Corporation, he went to Princeton University where he received a Ph.D. in 1953[8] based on the thesis "Additive and non-additive set functions".[1][9] His thesis and post-doctoral work introduced the Shapley value and the core solution in game theory. Shapley defined game theory as "a mathematical study of conflict and cooperation." After graduating, he remained at Princeton for a short time before going back to the RAND corporation from 1954 to 1981. In 1950, while a graduate student, Shapley invented the board game So Long Sucker, along with Mel Hausner, John Forbes Nash, and Martin Shubik.[10] Israeli economist and Nobel Laureate Robert Aumann considered Shapley to be "the greatest game theorist of all time."[11]
From 1981 until his death, Shapley was a professor at the University of California, Los Angeles (UCLA), serving at the time of his death as a professor emeritus there, affiliated with the Mathematics and Economics departments. He died on March 12, 2016, in Tucson, Arizona, after suffering from a broken hip, at the age of 92.[4]
Shapley was an expert Kriegspiel player, and an avid baseball fan.[11]
Besides, his early work with R. N. Snow and Samuel Karlin on matrix games was so complete that little has been added since. He has been instrumental in the development of utility theory, and it was he who laid much of the groundwork for the solution of the problem of the existence of Von Neumann–Morgenstern stable sets. His work with M. Maschler and B. Peleg on the kernel and the nucleolus, and his work with Robert Aumann on non-atomic games and on long-term competition have all appeared in economic theory.[14]
Shapley argued with his sons about whether he should accept the Nobel Prize at all. He opined that his father, the astronomer Harlow Shapley, deserved it more. His sons persuaded him to accept it and accompanied him to Stockholm.[15]
Long-Term Competition – A Game-Theoretic Analysis [1994] (with Robert Aumann), in Essays in Game Theory: In Honor of Michael Maschler, Nimrod Megiddo (ed.), Springer-Verlag.
^Jain, C (March 15, 2016). "Spouse - source from NYTimes". The New York Times.
^Roth, A.E., Introduction to the Shapley Value, in "The Shapley Value: Essays in Honor of Lloyd S. Shapley", Cambridge University Press, 1988.
^ a b"Lloyd Shapley, a Nobel laureate in economics, has died". The Economist. ISSN 0013-0613. Retrieved March 13, 2016.
^Roth, Al (March 12, 2016). "Lloyd S. Shapley 1923– 2016". Nature. 532 (7598): 178. Bibcode:2016Natur.532..178R. doi:10.1038/532178a. PMID 27075091. S2CID 4469185. Retrieved March 13, 2016.
^"MARTHA BETZ SHAPLEY". The New York Times. January 27, 1981.
^ a b"Lloyd S. Shapley – Interview". Nobel Media AB. Retrieved March 13, 2016.
^ a b"Princeton alumnus Shapley wins Nobel Prize". Princeton University. October 15, 2012. Retrieved March 13, 2016.
^L.S. Shapley (1953). "Additive and non-additive set functions" (PDF). Retrieved May 13, 2021.
^Hausner, M., Nash, J. F., Shapley, L. S. & Shubik, M., (1964), "So Long Sucker, A Four-Person Game", Game Theory and Related Approaches to Social Behavior, John Wiley & Sons, Inc., New York.
^ a bHagerty, James, Lloyd Shapley: 1923–2016, Wall Street Journal, March 19–20, 2016, p. A7.
^ a b"Lloyd Shapley" (PDF). American Economic Association. Archived from the original (PDF) on March 16, 2016. Retrieved March 13, 2016.
^"Matchmaker in heaven – Lloyd Shapley, a Nobel laureate in economics, has died". The Economist. March 13, 2016. Retrieved March 13, 2016.
^Diertele, David A. (August 8, 2013). Economic Thinkers: A Biographical Encyclopedia. Abc-Clio. p. 385. ISBN 9780313397479. Retrieved March 13, 2016.
^Hagerty, James, Lloyd Shapley: 1923–2016, Wall Street Journal, March 19–20, 2016, p.A7
^ a b c d e f"Lloyd Stowell Shapley – Vita". UCLA. Retrieved March 13, 2016.
^List of Fellows of the American Mathematical Society, retrieved July 18, 2013.
^"Market Design". The Golden Goose Award. Retrieved May 27, 2015.
Further reading
Stable Marriage and Its Relation to Other Combinatorial Problems: An Introduction to the Mathematical Analysis of Algorithms, Donald E. Knuth, American Mathematical Society, 1997 (English Translation.)
External links
The Shapley Value
Citation of von Neumann Theory Prize on L.S.Shapley's work: "Lloyd Shapley has dominated game theory for the thirty-seven years since von Neumann and Morgenstern published their path-breaking book, The Theory of Games and Economic Behavior."
Albert Tucker's comment on L.S.Shapley's work. In 1995, Albert W. Tucker mentioned in his passing that Shapley was second only to Von Neumann as the most important researcher in theory of games so far. Philip Wolfe Interview by Irv Lustig, May 4, 2001. Video by Irv Lustig, Short Hills, NJ.
Lloyd S. Shapley on Nobelprize.org including the Nobel Lecture
Robert Aumann's Nobel lecture, also see here [1].
UCLA – In Memoriam
Biography of Lloyd S. Shapley from the Institute for Operations Research and the Management Sciences