Nobel-winning economist Thomas Schelling dies at 95

Schelling's work used game theory to explain nuclear brinksmanship

Nobel Prize-winning economist Thomas Schelling, who used game theory to explain nuclear strategy, has passed away, according to a colleague.

Longtime friend and colleague Richard Zeckhauser says Schelling died Tuesday at his home in Bethesda, Maryland. The former Harvard University and University of Maryland professor was 95.

Schelling was awarded the Nobel Prize in economics in 2005 along with Robert Aumann. The Nobel committee said the economists' work "enhanced our understanding of conflict and cooperation through game-theory analysis".

Schelling's work explaining nuclear brinksmanship was part of what inspired director Stanley Kubrick to write his satirical masterpiece "Dr. Strangelove".

Schelling also used game theory to explain why white homeowners fled mixed-race cities for the suburbs. Game theory is the mathematical study of strategies used in competitive situations.