Nobel Laureate in Economics Professor Robert J Aumann shared his insights with students during his recent Pune visit
Nobel Laureate in Economics Professor Robert J Aumann shared his insights with students during his recent Pune visit
Professor Robert J Aumann, who was awarded the Nobel Prize in Economic Sciences in 2005, addressed the seventh convocation programme of studentsu00a0 belonging to theu00a0International School of Business and Media at Nande Campus in Pune.
Aumann who was the chief guest for the event stayed on campus and intertacted with students.
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Aumann told the students about his father, who being a successful wholesale textile merchant, was financially comfortable, till the Nazi regime made life difficult foru00a0 Jews in Germany.
"In 1938 we obtained American visas with some difficulty, and emigrated from Frankfurt to New York," said Prof Aumann.
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Prof Robert Aumann has worked extensively on the Game Theory. (see box) Words of wisdom
During the convocation Aumann gave some valuable advise to students.
"We must go where our curiosity leads us; we must go where we want to go. And eventually, it is sure to lead us to the beautiful, important and useful things," he said.
"Young people must believe in themselves and be honest. When you work for yourself, you work the best," said Aumann.
The theory
Game theory a branch of applied mathematics that has applications in economics, biology, engineering, political science, international relations and science.
It captures behaviour in tragic situations, in which an individual's successu00a0 in making choices depends on the choices of others.
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