Lloyd S. Shapley

Lloyd S. Shapley was a renowned mathematician and economist known for his work in game theory, which studies strategic interactions where the outcome depends on everyone's choices. He developed mathematical models to fairly split benefits in cooperative situations, such as forming coalitions. His most famous contribution, the "Shapley value," provides a way to distribute rewards or costs fairly among participants based on their individual contributions. Shapley's work helps in diverse fields like economics, politics, and business by ensuring equitable resource allocation and cooperation. He received the Nobel Prize in Economic Sciences in 2012 for his foundational contributions to the field.