STOCKHOLM, Oct. 10 (Xinhuanet) -- Israeli-US citizen Robert J. Aumann and American Thomas C. Schelling won the 2005 Nobel prize for economics on Monday for their "game theory" analysis.

Thomas C. Schelling (R) and Robert J. Aumann, who won the 2005 Nobel Memorial Prize in Economic Sciences Oct. 10, are seen in this 2-pic composite image. (AP)

    They won the prize for having enhanced people's understanding of conflict and cooperation through game-theory analysis, said the Royal Swedish Academy of Sciences.

    "Insights into these issues help explain economic conflicts such as price wars and trade wars, as well as why some communities are more successful than others in managing common-pool resources," the academy added.

    Using game theory, the two economists explained why some peopleand countries manage to cooperate, while others suffer form conflict.

    Their study can help resolve conflicts in trade and business and has also found uses in security and disarmament policies as well as political negotiations, according to the academy.

    Aumann, 75, is a professor at the Center for Rationality at the Hebrew University of Jerusalem. Schelling, 84, teaches at the University of Maryland. Enditem

The Royal Swedish Academy of Sciences announces in Stockholm Oct. 10 that the 2005 Nobel economics prize will be awarded to Thomas C. Schelling of the United States and Robert J. Aumann, who has the nationalities of Israel and the US, for their "game-theory analysis", which can help resolve conflicts in trade and business -- and even avoid war. (Xinhua)