A History of Game Theory - Vol. 1

By Mary Ann Dimand; Robert W. Dimand | Go to book overview

9

VON NEUMANN AND MORGENSTERN IN HISTORICAL PERSPECTIVE 1

Von Neumann and Morgenstern’s Theory of Games and Economic Behavior (1944) made great advances in the analysis of strategic games and in the axiomatization of measurable utility theory and drew the attention of economists and other social scientists to these subjects. In the inter-war period, several papers and monographs on strategic games had been published, including work by von Neumann (1928) and Morgenstern (1935), as well as by Borel (1921, 1924, 1927, 1938), Ville (1938), de Possel (1936) and Steinhaus (1925), but these were known only to a small community of Continental European mathematicians. Von Neumann and Morgenstern thrust strategic games above the horizon of the economics profession. Their work was the basis for post-war research in game theory, initially a specialized field with applications to military strategy and statistical decision theory, but eventually permeating industrial organization and public choice and influencing macroeconomics and international trade.

The initial impact of the Theory of Games was not based on direct readership of the work. The mathematical training of the typical, or even fairly extraordinary, economist of the time was no preparation for comprehending over 600 pages of formal reasoning by an economist of the calibre of von Neumann, even though von Neumann and Morgenstern provided much more narration of the analysis than von Neumann would have offered to an audience of mathematicians. Apart from its effect on Wald and a few other contributors to Annals of Mathematics, the impact of the Theory of Games was mediated through the efforts of a small group of eminent and soon-to-be-eminent scholars who read and digested the work and wrote major review articles. The amount of space accorded these reviews and review articles by journal editors was extraordinary, recalling the controversy following the publication of Keynes’ General Theory, but there was an important difference. Economists might find the General Theory a difficult book, but they read it (until recent years). Apart from the handful of young mathematicians and mathematically-inclined economists specializing in the new field of game theory, most economists had to rely on Hurwicz or Simon, Stone or Wald, or

-142-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
A History of Game Theory - Vol. 1
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Preface ix
  • 1 - Introduction 1
  • 2 - Strategic Interdependence 18
  • 3 - Strategic Interdependence 35
  • 4 - Strategic Interdependence 54
  • 5 - Lewis Carroll and the Game of Politics 84
  • 6 - Early Mathematical Models of Conflict 104
  • 7 - The Minimax Approach to Non-Cooperative Strategic Games from Waldegrave to Borel 120
  • 8 - From Games of Pure Chance to Strategic Games 131
  • 9 142
  • Notes 158
  • Bibliography 170
  • Index 184
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 190

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.