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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 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. This sixtieth anniversary edition includes not only the original text but also an introduction by Harold Kuhn, an afterword by Ariel Rubinstein, and reviews and articles on the book that appeared at the time of its original publication in the New York Times, tthe American Economic Review, and a variety of other publications. Together, these writings provide readers a matchless opportunity to more fully appreciate a work whose influence will yet resound for generations to come.


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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 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. This sixtieth anniversary edition includes not only the original text but also an introduction by Harold Kuhn, an afterword by Ariel Rubinstein, and reviews and articles on the book that appeared at the time of its original publication in the New York Times, tthe American Economic Review, and a variety of other publications. Together, these writings provide readers a matchless opportunity to more fully appreciate a work whose influence will yet resound for generations to come.

30 review for Theory of Games and Economic Behavior

  1. 5 out of 5

    Steve

    When I was in junior high school, I remember coming across this volume in the stacks of the local public library, being captivated by the prospect of having a leg up on others in games. Backgammon, anyone? The pages seemed very adult, with runic symbols and equations. I really wanted to know what those pages meant. One day, I thought. Fast forward some 40+ years. I finally got around to paging through the Theory of Games and Economic Behavior with mental props from a career in finance and two Ivy When I was in junior high school, I remember coming across this volume in the stacks of the local public library, being captivated by the prospect of having a leg up on others in games. Backgammon, anyone? The pages seemed very adult, with runic symbols and equations. I really wanted to know what those pages meant. One day, I thought. Fast forward some 40+ years. I finally got around to paging through the Theory of Games and Economic Behavior with mental props from a career in finance and two Ivy League degrees, from which come the faint background radiated memories of calculus, differential equations, decision science and statistics. And still, the work of Messrs. von Neumann and Morgenstern presents great difficulty to understanding. I now believe I can put my arms around their framework, their general approach and simplifications, which is a big step forward. The object is to maximize utility of the whole when presented with individual utilities. I must say that the work's presentation rests, for the most part, in logic and rather common algebra and geometry; yet, could it have been expressed in a more indecipherable way? It would be interesting to read a translation of this volume into our vernacular, recasting the language and mathematics through the lens of simplicity. Anyone care to take up that task? 1 star for quality of writing/presentation, 5 stars for brainpower/contribution to academia = 3 stars overall

  2. 5 out of 5

    Lieb

    Modern Game Theory is difficult and this is the first book on the subject so you are already starting with quite a hill to climb. The authors don't make it any easier by using convoluted descriptions and poorly structured examples to present their excellent ideas. I gave this book a low review purely on the quality of the writing. Game Theory is an important subject and we are indebted to von Neumann and Morgenstern for formulating the concepts but unfortunately they were not able to present Modern Game Theory is difficult and this is the first book on the subject so you are already starting with quite a hill to climb. The authors don't make it any easier by using convoluted descriptions and poorly structured examples to present their excellent ideas. I gave this book a low review purely on the quality of the writing. Game Theory is an important subject and we are indebted to von Neumann and Morgenstern for formulating the concepts but unfortunately they were not able to present their ideas in a clear way. Check out http://www.goodreads.com/book/show/79... for a much better introduction to Game Theory.

  3. 5 out of 5

    Tyler

    A fascinating book. I will revisit it later on in my life for sure, but for what I did grasp I thought this book to be highly informative, and extremely impressive. This was an eye-opening experience. Watching Von Neumann and Morgenstern flip between mathematics and verbal explanation was impressive, and seeing the results of mathematical experiments and interpretations was breath taking. My favorite part was the applications of acyclicity. If you have a problem with the axiomization of A fascinating book. I will revisit it later on in my life for sure, but for what I did grasp I thought this book to be highly informative, and extremely impressive. This was an eye-opening experience. Watching Von Neumann and Morgenstern flip between mathematics and verbal explanation was impressive, and seeing the results of mathematical experiments and interpretations was breath taking. My favorite part was the applications of acyclicity. If you have a problem with the axiomization of numerical utility, he lays it all out immediately upon beginning the work, which is the foundation upon which it rests. He obviously concludes this explanation by simply stating that without a numerical, and in some cases integral, value of utility, some sociological/psychological observations are impossible and therefore his method of effective triangles explains human behavior in situations of exchange much better than indifference curve analysis. This is a big recommend to any mathematician or Game Theorist, or even any computer scientist. Because hey, this all has applications within various avenues of scientific and mathematical thought.

  4. 5 out of 5

    William Boyle

    Extremely challenging to read if you are not rather far along in your math career. I am a math major myself and found it quite confusing from the very beginning. I did not thoroughly understand how they proved that utility was a linear transformation always. It was also hard to keep track of all the variables when going through the proofs etc. This reads like an academic research paper (it kind of is) and so unless you are, as I suggested, far along in your math career, I do not recommend it. I Extremely challenging to read if you are not rather far along in your math career. I am a math major myself and found it quite confusing from the very beginning. I did not thoroughly understand how they proved that utility was a linear transformation always. It was also hard to keep track of all the variables when going through the proofs etc. This reads like an academic research paper (it kind of is) and so unless you are, as I suggested, far along in your math career, I do not recommend it. I just finished Linear Algebra to give an idea of my current mathematical understanding. It likely is an excellent book, but I would not know and the majority will not either. I would recommend The Art of Strategy by Dixit and some other guy if you want an intro to Game Theory.

  5. 4 out of 5

    Mr. Fake

    i love this book, is my favorite

  6. 5 out of 5

    Elxan

    More than a book. Simply, this theory improves logical thinking and analyses abilities which changed the modern world history/science/industry since WW2

  7. 4 out of 5

    Luo Sai

    The first book systematically developed the concept of game theory. But it's content is not much used.

  8. 4 out of 5

    Lukas

    An absolute must

  9. 5 out of 5

    Mona

    I think every self-respecting researcher needs to have this classic...

  10. 4 out of 5

    Alexander Curran

    A complex and predicative book detailing game theory and economical activity/progression.

  11. 5 out of 5

    Gerald

    One of the GREAT books, world changing!

  12. 5 out of 5

    ryan ward

  13. 4 out of 5

    Adrien

  14. 5 out of 5

    Jean

  15. 5 out of 5

    Michael Kareev

  16. 4 out of 5

    Wisha

  17. 4 out of 5

    Ali Rouaki

  18. 4 out of 5

    Bolin Zhou

  19. 5 out of 5

    Martine Devos

  20. 4 out of 5

    Stephen Haynes

  21. 4 out of 5

    Milo

  22. 4 out of 5

    Johana

  23. 5 out of 5

    Alexa Carvajal

  24. 4 out of 5

    Avishek Bhattacharyya

  25. 5 out of 5

    Paul Vittay

  26. 5 out of 5

    Leonardo Aguayo

  27. 5 out of 5

    Jerzy Janiec

  28. 4 out of 5

    Rizwan

  29. 5 out of 5

    O

  30. 5 out of 5

    Ettore Valerio

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