Lloyd Shapley

Date of Birth: June 2, 1923

Zodiac Sign: Gemini

Date of Death: March 12, 2016

Biography

Lloyd Stowell Shapley was an eminent American mathematician and economist, widely recognized for his contributions to the field of game theory. Born in Cambridge, Massachusetts, Shapley’s academic journey began with a Bachelor of Arts in Mathematics from Harvard University. His education was temporarily interrupted by World War II, during which he served in the U.S. Army Air Forces and was awarded the Bronze Star for his role in breaking the Soviet weather code. After the war, Shapley completed his undergraduate degree and went on to earn a Ph.D. in Mathematics from Princeton University under the supervision of the renowned mathematician Albert W. Tucker. His doctoral thesis, “Additive and Non-Additive Set Functions,” laid the groundwork for his future research. Shapley’s career included significant tenures at institutions such as the RAND Corporation and the University of California, Los Angeles (UCLA). He made groundbreaking contributions to the theory of games, including the development of the Shapley value, a solution concept in cooperative game theory that distributes total gains to the players depending on their marginal contributions. In 2012, Shapley was awarded the Nobel Memorial Prize in Economic Sciences, which he shared with Alvin E. Roth for their work on the theory of stable allocations and the practice of market design. His work has had a profound impact on economics, political science, and operations research.

5 Interesting Facts about Lloyd Shapley

1. Lloyd Shapley served in the U.S. Army Air Forces during World War II and was awarded the Bronze Star for his efforts in breaking the Soviet weather code.

2. He was a pioneer in the field of game theory, and his development of the Shapley value is considered one of his most significant contributions.

3. Shapley worked extensively at the RAND Corporation, where he collaborated with other prominent economists and mathematicians.

4. He was awarded the Nobel Memorial Prize in Economic Sciences in 2012, alongside Alvin E. Roth.

5. Shapley’s work on stable allocations and market design has influenced various fields, including economics, political science, and operations research.

5 Most Interesting Quotes from Lloyd Shapley

1. “Game theory is a sort of umbrella or ‘unified field’ theory for the rational side of social science.”

2. “The Shapley value is a concept in cooperative game theory that has been applied to understand various allocation problems.”

3. “Mathematics is not a spectator sport; it’s something you must get involved in.”

4. “Our work on stable allocations has found applications in many areas, from school choice to organ donation.”

5. “The beauty of game theory lies in its ability to simplify and model complex social interactions.”

Highest Net Worth Achieved

While specific figures regarding Lloyd Shapley’s net worth are not publicly disclosed, his highest net worth would be associated with his academic and professional contributions rather than substantial personal wealth.