Who wrote Theory of Games and Economic Behavior?
Theory of Games and Economic Behavior was written by mathematician John von Neumann and economist Oskar Morgenstern. It was published by Princeton University Press in 1944.
Questions about Theory of Games and Economic Behavior
Short answers, pulled from the story.
When was Theory of Games and Economic Behavior first published?
Theory of Games and Economic Behavior was first published in 1944 by Princeton University Press. A Second Edition appeared in 1947, adding an appendix on the axiomatic treatment of utility.
What earlier work is Theory of Games and Economic Behavior based on?
The book draws partly on a 1928 paper by von Neumann titled "Zur Theorie der Gesellschaftsspiele," which translates to "On the Theory of Board Games." That paper provided the mathematical foundation that the 1944 book extended.
What did Richard Stone say about Theory of Games and Economic Behavior?
Richard Stone described Theory of Games and Economic Behavior as the most important publication in economics since John Maynard Keynes's The General Theory of Employment, Interest and Money, which appeared in 1936.
What is the connection between Theory of Games and Economic Behavior and expected utility theory?
The Second Edition of 1947 added an appendix deriving expected utility from axioms. Von Neumann and Morgenstern used objective probabilities; Jimmie Savage extended the framework to subjective probabilities in 1954, and Johann Pfanzagl extended it further in 1967.
What is Theory of Games and Economic Behavior's place in the history of game theory?
Princeton University Press describes Theory of Games and Economic Behavior as "the classic work upon which modern-day game theory is based." The book is considered the groundbreaking text that created game theory as an interdisciplinary research field.