Ariel Rubinstein
Encyclopedia
Ariel Rubinstein (born April 13, 1951, Jerusalem) is an Israeli economist
who works in game theory
. He was educated at the Hebrew University of Jerusalem
, 1972–1979, in both mathematics
and economics
. He is currently (2006) a professor of economics with the School of Economics at Tel Aviv University
and with the Department of Economics at New York University
.
In 1982, he published "Perfect equilibrium in a bargaining model", an important contribution to the theory of bargaining
. The model is known also as a Rubinstein bargaining model
. It describes two-person bargaining as an extensive game with perfect information
in which the players alternate offers. A key assumption is that the players are impatient. The main result gives conditions under which the game has a unique subgame perfect equilibrium
and characterizes this equilibrium. He also co-wrote A Course in Game Theory (1994) with Martin J. Osborne, a book that has been cited in excess of 4,000 time as of November 2011, more than any other work on game theory listed in Google Scholar
.
in (1994) and the American Economic Association
(1995). In 1985 he was elected a fellow of the Econometric Society
, and served as its president in 2004.
In 2002, he was awarded an honorary doctorate by the Tilburg University.
He has received the Bruno Prize (2000), the Israel Prize
for economics (2002), the Nemmers Prize (2004), and the Emet Prize (2006).
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
who works in game theory
Game theory
Game theory is a mathematical method for analyzing calculated circumstances, such as in games, where a person’s success is based upon the choices of others...
. He was educated at the Hebrew University of Jerusalem
Hebrew University of Jerusalem
The Hebrew University of Jerusalem ; ; abbreviated HUJI) is Israel's second-oldest university, after the Technion – Israel Institute of Technology. The Hebrew University has three campuses in Jerusalem and one in Rehovot. The world's largest Jewish studies library is located on its Edmond J...
, 1972–1979, in both mathematics
Mathematics
Mathematics is the study of quantity, space, structure, and change. Mathematicians seek out patterns and formulate new conjectures. Mathematicians resolve the truth or falsity of conjectures by mathematical proofs, which are arguments sufficient to convince other mathematicians of their validity...
and economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
. He is currently (2006) a professor of economics with the School of Economics at Tel Aviv University
Tel Aviv University
Tel Aviv University is a public university located in Ramat Aviv, Tel Aviv, Israel. With nearly 30,000 students, TAU is Israel's largest university.-History:...
and with the Department of Economics at New York University
New York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
.
In 1982, he published "Perfect equilibrium in a bargaining model", an important contribution to the theory of bargaining
Bargaining
Bargaining or haggling is a type of negotiation in which the buyer and seller of a good or service dispute the price which will be paid and the exact nature of the transaction that will take place, and eventually come to an agreement. Bargaining is an alternative pricing strategy to fixed prices...
. The model is known also as a Rubinstein bargaining model
Rubinstein bargaining model
A Rubinstein bargaining model refers to a class of bargaining games that feature alternating offers through an infinite time horizon. The original proof is due to Ariel Rubinstein in a 1982 paper...
. It describes two-person bargaining as an extensive game with perfect information
Perfect information
In game theory, perfect information describes the situation when a player has available the same information to determine all of the possible games as would be available at the end of the game....
in which the players alternate offers. A key assumption is that the players are impatient. The main result gives conditions under which the game has a unique subgame perfect equilibrium
Subgame perfect equilibrium
In game theory, a subgame perfect equilibrium is a refinement of a Nash equilibrium used in dynamic games. A strategy profile is a subgame perfect equilibrium if it represents a Nash equilibrium of every subgame of the original game...
and characterizes this equilibrium. He also co-wrote A Course in Game Theory (1994) with Martin J. Osborne, a book that has been cited in excess of 4,000 time as of November 2011, more than any other work on game theory listed in Google Scholar
Google Scholar
Google Scholar is a freely accessible web search engine that indexes the full text of scholarly literature across an array of publishing formats and disciplines. Released in beta in November 2004, the Google Scholar index includes most peer-reviewed online journals of Europe and America's largest...
.
Honours and awards
Rubinstein was elected a member of the Israel Academy of Sciences (1995), a Foreign Honorary Member of the American Academy of Arts and SciencesAmerican Academy of Arts and Sciences
The American Academy of Arts and Sciences is an independent policy research center that conducts multidisciplinary studies of complex and emerging problems. The Academy’s elected members are leaders in the academic disciplines, the arts, business, and public affairs.James Bowdoin, John Adams, and...
in (1994) and the American Economic Association
American Economic Association
The American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
(1995). In 1985 he was elected a fellow of the Econometric Society
Econometric Society
The Econometric Society is an international society for the advancement of economic theory in its relation with statistics and mathematics. It was founded on December 29, 1930 at the Stalton Hotel in Cleveland, Ohio....
, and served as its president in 2004.
In 2002, he was awarded an honorary doctorate by the Tilburg University.
He has received the Bruno Prize (2000), the Israel Prize
Israel Prize
The Israel Prize is an award handed out by the State of Israel and is largely regarded as the state's highest honor. It is presented annually, on Israeli Independence Day, in a state ceremony in Jerusalem, in the presence of the President, the Prime Minister, the Knesset chairperson, and the...
for economics (2002), the Nemmers Prize (2004), and the Emet Prize (2006).
Published works
- Bargaining and Markets, with Martin J. Osborne, Academic Press 1990
- A Course in Game Theory, with Martin J. Osborne, MIT Press, 1994.
- Modeling Bounded Rationality, MIT Press, 1998.
- Economics and Language, Cambridge University Press, 2000
- Lecture Notes in Microeconomic Theory: The Economic Agent, Princeton University Press, 2006
External links
See also
- List of Israel Prize recipients