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2020-08-10 20:17:06
VON NEUMANN, JOHN and OSKAR MORGENSTERN
Theory of Games and Economic Behavior
Princeton: University Press, 1944. xviii, 625 pp. Original cloth, without dust jacket. Light wear. Very good. The often-lacking Corrigenda slip is tipped in at the end of the table of contents. FIRST EDITION of the founding book of game theory. Inscribed by Oskar Morgenstern: To Dan Maxim, with esteem and warm regards Oskar Morgenstern July 1971 Have you found the set-theoretical hiding in this book? At Princeton in the 1930s, John von Neumann, who had first explored competitive games in a 1928 paper, met Oskar Morgenstern, the first economist to recognize that economic agents must take the interactive nature of economics into account when making their decisions. Their collaboration culminated in Theory of Games and Economic Behavior, which founded of the discipline of game theory and revolutionized mathematical economics. In addition to presenting the strictly competitive theory that von Neumann had analyzed with his minimax theorem, this work introduces the notion of the cooperative game and presents the first extensive applications of game theory. Had it merely called to our attention the existence and exact nature of certain fundamental gaps in economic theory, the Theory of Games and Economic Behavior would have been a book of outstanding importance. But it does more than that. It is essentially constructive: where existing theory is considered to be inadequate, the authors put in its place a highly novel analytical apparatus designed to cope with the problem. It would be doing the authors an injustice to say that theirs is a contribution to economics only. The scope o … [Click Below for Full Description]
Bookseller: 19th Century Rare Book & Photograph Shop [Stevenson, MD, U.S.A.]

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