VON NEUMANN, JOHN, and OSKAR MORGENSTERN. Theory of Games and Economic Behavior. Princeton University Press, 1944.
Lot 147
VON NEUMANN, JOHN, and OSKAR MORGENSTERN.
Theory of Games and Economic Behavior. Princeton University Press, 1944.
US$ 2,000 - 3,000
£1,200 - 1,900

Lot Details
VON NEUMANN, JOHN, and OSKAR MORGENSTERN. Theory of Games and Economic Behavior. Princeton University Press, 1944.
VON NEUMANN, JOHN, and OSKAR MORGENSTERN.
Theory of Games and Economic Behavior. Princeton University Press, 1944.
8vo. Illustrated with figures. Original red cloth. Modest sunning, light shelfwear, tips just showing. Corrigenda slip present.

FIRST EDITION OF THE FOUNDATIONAL DESCRIPTION OF GAME THEORY. Von Neumann first wrote seriously about games in a 1928 paper, but it was not until this collaboration with Oskar Morgenstern that game theory was presented as an econometric tool. "The method of von Neumann and Morgenstern has become the archetype of later applications of game theory. One takes an economic problem, formulates it as a game, finds the game-theoretic solution, then translates the solution back into economic terms" (New Palgrave). However, "it would be doing the authors an injustice to say that theirs is a contribution to economics only. The scope of the book is much broader. The techniques applied by the authors in tackling economic problems are of sufficient generality to be valid in political science, sociology, or even military strategy. The applicability to games proper (chess and poker) is obvious from the title. Moreover, the book is of considerable interest from a purely mathematical point of view..." (Hurwicz in World of Mathematics, vol 2, p 1267 ff). Also, in the words of two Nobel Prize winning economists, "a landmark in the history of ideas" and a seminal work in mathematics and economics, which "has had a profound impact on statistics" (Dorfman, Samuelson & Solow Linear Programming and Economic Analysis pp 417, 445). Origins of Cyberspace 953.
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