The theories of these five men: John C. Harsanyi, John Nash, Reinhard Selten, Robert W.
             Fogel, and Douglass C. North, made an abundant progress in the Economic Sciences in America
             and the economy. For these great accomplishments, these five were awarded the Noble Peace Prize
             in Economic Sciences in 1994(Harsanyi, Nash, Selten), and 1993(Forgel, North).
             The three economists who was awarded the Noble Peace Prize in 1994 for their excellent
             work and progress in game theory was know as pioneers in using games like chess and poker as the
             foundation for understanding complex economic issues. This was precisely half a century after
             John Von Neumann and Osar Morgenstern launched the field with the publication of "The Theory
             of Games and Economic Behavior."
             "John F. Nash of Princeton University(a American economists), John C. Harsanyi of the
             University of California at Berkeley(a Hungarian economist), and Reinhard Selten of the Rheinische
             Friedrich- Wilhelms-Universitat in Bonn(a German economists), shared the award, and the
             $930,000 cash award for their achievements in economics."1
             The trios accomplishment portrayed the significance of Von Neumann and Morgenstern's
             contribution to game theory, which was recognized by economists and others almost immediately.
             The lessons they drew from homely games like chess and poker had exemplified universal
             application to economic situations in which the participants had the power to anticipate and affect
             other participants' actions. Harsanyi stated "it is a theory of strategic interactions...of rational
             behavior in social situations in which each player has to choose his moves on the basis of what he
             thinks the other players' counter moves are likely to be"2
             Economists did not have an immediate success in applying their insights to a field whose
             preoccupation with the idea of "free competition" required that the...