Theory of Games and Economic Behaviour
This is the classic work upon which modern-day game theory is based. What began more than sixty years ago as a modest proposal that a mathematician and an economist write a short paper together blossomed, in 1944, when Princeton University Press published "Theory of Games and Economic Behavior." In it, John von Neumann and Oskar Morgenstern conceived a groundbreaking mathematical theory of economic and social organization, based on a theory of games of strategy. Not only would this revolutionize economics, but the entirely new field of scientific inquiry it yielded--game theory--has since been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations. And it is today established throughout both the social sciences and a wide range of other sciences.
- Paperback | 664 pages
- 159 x 235.2 x 34.5mm | 907.2g
- 01 Jul 1992
- Princeton University Press
- New Jersey, United States
- 3rd ed.
The main achievement of the book lies, more than in its concrete results, in its having introduced into economics the tools of modern logic and in using them with an astounding power of generalization. "Posterity may regard this book as one of the major scientific achievements of the first half of the twentieth century. This will undoubtedly be the case if the authors have succeeded in establishing a new exact science--the science of economics. The foundation which they have laid is extremely promising."--"The Bulletin of the American Mathematical Society" "One cannot but admire the audacity of vision, the perseverance in details, and the depth of thought displayed in almost every page of the book. . . . The appearance of a book of [this] calibre . . . is indeed a rare event."--"The American Economic Review" "The main achievement of the book lies, more than in its concrete results, in its having introduced into economics the tools of modern logic and in using them with an astounding power of generalization."--"The Journal of Political Economy"