Maurice Allais, Reinhard Selten, and Vernon Smith all were awarded the Nobel Prize in Economics in part because

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Maurice Allais, Reinhard Selten, and Vernon Smith were awarded the Nobel Prize in Economics for their pioneering work in the field of experimental economics. They developed new methods for studying decision-making in markets and other economic contexts, which have since been widely used by researchers seeking to better understand complex economic phenomena. Specifically, their work focused on how people behave in situations where they face uncertainty, and how this behavior affects market outcomes over time.

Maurice Allais, Reinhard Selten, and Vernon Smith All Were Awarded