Nobel laureate calls for institutes to study war

The 2005 winner of Nobel Prize for Economics was delivering a lecture on 8216;War and Peace8217;, organised jointly by the Indian Institute of Science, Indian Institute of Management, Bangalore and IBM at IISc on Tuesday. Aumann said, 8220;War has always been with us. We need to study the incentives that lead to war. Peace cannot be had if it has to come now. But if we start working towards it then we can eventually get it.8221;

Aumann, who won the Nobel for his contribution to game theory, a branch of applied mathematics that studies strategic situations where players choose different actions to maximise returns, stressed on 8220;repetition enables cooperation8221; in particular and emphasised what types of outcomes could be upheld over time in the context of long-run economic relations.