Lester Telser is Professor of Economics Emeritus at the University of Chicago. A student at Chicago in the 1950s, Dr. Telser was first a professor in the Graduate School of Business until 1964. Dr. Telser’s life work is the theory of the core, a variant of game theory that involves coalitions of agents as opposed to individuals working to maximize their advantage. He used sophisticated mathematics to study why and how certain forms of markets are organized without appeals to more established concepts in economics. As both a student and colleague at Chicago economics department, and as a fellow at both the Cowles Commission and the Cowles Foundation, Telser is a key witness to the transformation of the field of economics after World War II.
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