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Theory Of Games And Economic Behavior
''Theory of Games and Economic Behavior'', published in 1944 by Princeton University Press, is a book by mathematician John von Neumann and economist Oskar Morgenstern which is considered the groundbreaking text that created the interdisciplinary research field of game theory. In the introduction of its 60th anniversary commemorative edition from the Princeton University Press, the book is described as "the classic work upon which modern-day game theory is based." Overview The book is based partly on earlier research by von Neumann, published in 1928 under the German title "Zur Theorie der Gesellschaftsspiele" (''"On the Theory of Board Games"''). The derivation of expected utility from its axioms appeared in an appendix to the Second Edition (1947). Von Neumann and Morgenstern used objective probabilities, supposing that all the agents had the same probability distribution, as a convenience. However, Neumann and Morgenstern mentioned that a theory of subjective probability co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Von Neumann
John von Neumann ( ; ; December 28, 1903 – February 8, 1957) was a Hungarian and American mathematician, physicist, computer scientist and engineer. Von Neumann had perhaps the widest coverage of any mathematician of his time, integrating Basic research, pure and Applied science#Applied research, applied sciences and making major contributions to many fields, including mathematics, physics, economics, computing, and statistics. He was a pioneer in building the mathematical framework of quantum physics, in the development of functional analysis, and in game theory, introducing or codifying concepts including Cellular automaton, cellular automata, the Von Neumann universal constructor, universal constructor and the Computer, digital computer. His analysis of the structure of self-replication preceded the discovery of the structure of DNA. During World War II, von Neumann worked on the Manhattan Project. He developed the mathematical models behind the explosive lense ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expected Utility
The expected utility hypothesis is a foundational assumption in mathematical economics concerning decision making under uncertainty. It postulates that rational agents maximize utility, meaning the subjective desirability of their actions. Rational choice theory, a cornerstone of microeconomics, builds this postulate to model aggregate social behaviour. The expected utility hypothesis states an agent chooses between risky prospects by comparing expected utility values (i.e., the weighted sum of adding the respective utility values of payoffs multiplied by their probabilities). The summarised formula for expected utility is U(p)=\sum u(x_k)p_k where p_k is the probability that outcome indexed by k with payoff x_k is realized, and function ''u'' expresses the utility of each respective payoff. Graphically the curvature of the u function captures the agent's risk attitude. For example, imagine you’re offered a choice between receiving $50 for sure, or flipping a coin to win $100 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1944 In Economic History
Events Below, the events of World War II have the "WWII" prefix. January * January 2 – WWII: ** Free France, Free French General Jean de Lattre de Tassigny is appointed to command First Army (France), French Army B, part of the Sixth United States Army Group in North Africa. ** Landing at Saidor: 13,000 US and Australian troops land on Papua New Guinea in an attempt to cut off a Japanese retreat. * January 8 – WWII: Philippine Commonwealth troops enter the province of Ilocos Sur in northern Luzon and attack Japanese forces. * January 11 ** United States President Franklin D. Roosevelt proposes a Second Bill of Rights for social and economic security, in his State of the Union address. ** The Nazi German administration expands Kraków-Płaszów concentration camp into the larger standalone ''Konzentrationslager Plaszow bei Krakau'' in occupied Poland. * January 12 – WWII: Winston Churchill and Charles de Gaulle begin a 2-day conference in Marrakech. * Janua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sociology Books
This bibliography of sociology is a list of works, organized by subdiscipline, on the subject of sociology. Some of the works are selected from general anthologies of sociology, while other works are selected because they are notable enough to be mentioned in a general history of sociology or one of its subdisciplines.See Michie, Jonathan, ed. 2001. ''Reader's Guide to the Social Sciences''. Sociology studies society using various methods of empirical investigation to understand human social activity, from the micro level of individual agency and interaction to the macro level of systems and social structure. Foundations * Comte, Auguste. 1865. Marx, Karl. 1867. Capital: A Critique of Political Economy''">' Capital: A Critique of Political Economy'' *Marx, Karl, and Engels, Friedrich. 1846. [''The German Ideology''">'The_German_Ideology.html" ;"title="Friedrich Engels">Engels, Friedrich. 1846. Friedrich Engels">Engels, Friedrich. 1846. [''The German Ideology'' * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Science Books
Politics () is the set of activities that are associated with making decisions in groups, or other forms of power relations among individuals, such as the distribution of status or resources. The branch of social science that studies politics and government is referred to as political science. Politics may be used positively in the context of a "political solution" which is compromising and non-violent, or descriptively as "the art or science of government", but the word often also carries a negative connotation.. The concept has been defined in various ways, and different approaches have fundamentally differing views on whether it should be used extensively or in a limited way, empirically or normatively, and on whether conflict or co-operation is more essential to it. A variety of methods are deployed in politics, which include promoting one's own political views among people, negotiation with other political subjects, making laws, and exercising internal and external f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Books About Game Theory
A book is a structured presentation of recorded information, primarily verbal and graphical, through a medium. Originally physical, electronic books and audiobooks are now existent. Physical books are objects that contain printed material, mostly of writing and images. Modern books are typically composed of many pages bound together and protected by a cover, what is known as the ''codex'' format; older formats include the scroll and the tablet. As a conceptual object, a ''book'' often refers to a written work of substantial length by one or more authors, which may also be distributed digitally as an electronic book (ebook). These kinds of works can be broadly classified into fiction (containing invented content, often narratives) and non-fiction (containing content intended as factual truth). But a physical book may not contain a written work: for example, it may contain ''only'' drawings, engravings, photographs, sheet music, puzzles, or removable content like paper dol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics Books
Economics () is a behavioral science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what is viewed as basic elements within economies, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and investment expenditure interact; and the factors of production affecting them, such as: labour, capital, land, and enterprise, inflation, economic growth, and public policies that impact these elements. It also seeks to analyse and describe the global economy. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocatin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1944 Non-fiction Books
Events Below, the events of World War II have the "WWII" prefix. January * January 2 – WWII: ** Free France, Free French General Jean de Lattre de Tassigny is appointed to command First Army (France), French Army B, part of the Sixth United States Army Group in North Africa. ** Landing at Saidor: 13,000 US and Australian troops land on Papua New Guinea in an attempt to cut off a Japanese retreat. * January 8 – WWII: Philippine Commonwealth troops enter the province of Ilocos Sur in northern Luzon and attack Japanese forces. * January 11 ** United States President Franklin D. Roosevelt proposes a Second Bill of Rights for social and economic security, in his State of the Union address. ** The Nazi German administration expands Kraków-Płaszów concentration camp into the larger standalone ''Konzentrationslager Plaszow bei Krakau'' in occupied Poland. * January 12 – WWII: Winston Churchill and Charles de Gaulle begin a 2-day conference in Marrakech. * Janua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Herbert A
Herbert may refer to: People * Herbert (musician), a pseudonym of Matthew Herbert * Herbert (given name) * Herbert (surname) Places Antarctica * Herbert Mountains, Coats Land * Herbert Sound, Graham Land Australia * Herbert, Northern Territory, a rural locality * Herbert, South Australia. former government town * Division of Herbert, an electoral district in Queensland * Herbert River, a river in Queensland * County of Herbert, a cadastral unit in South Australia Canada * Herbert, Saskatchewan, Canada, a town * Herbert Road, St. Albert, Canada New Zealand * Herbert, New Zealand, a town * Mount Herbert (New Zealand) United States * Herbert, Illinois, an unincorporated community * Herbert, Michigan, a former settlement * Herbert Creek, a stream in South Dakota * Herbert Island, Alaska Arts, entertainment, and media Fictional entities * Herbert (Disney character) * Herbert Pocket, a character in the Charles Dickens novel ''Great Expectations'' * Herbert West ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bayes' Theorem
Bayes' theorem (alternatively Bayes' law or Bayes' rule, after Thomas Bayes) gives a mathematical rule for inverting Conditional probability, conditional probabilities, allowing one to find the probability of a cause given its effect. For example, if the risk of developing health problems is known to increase with age, Bayes' theorem allows the risk to someone of a known age to be assessed more accurately by conditioning it relative to their age, rather than assuming that the person is typical of the population as a whole. Based on Bayes' law, both the prevalence of a disease in a given population and the error rate of an infectious disease test must be taken into account to evaluate the meaning of a positive test result and avoid the ''base-rate fallacy''. One of Bayes' theorem's many applications is Bayesian inference, an approach to statistical inference, where it is used to invert the probability of Realization (probability), observations given a model configuration (i.e., th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Johann Pfanzagl
Johann Richard Pfanzagl (2 July 1928 – 4 June 2019) was an Austrian mathematician known for his research in mathematical statistics. Life and career Pfanzagl studied from 1946 to 1951 at the University of Vienna and received his doctorate there in 1951 with Johann Radon and Edmund Hlawka on the topic of Hermitian forms in imaginary square number fields. In the same year he became a founding member of the Austrian Statistical Society, of which he was executive secretary from 1955 to 1959. From 1951 to 1959, Pfanzagl headed the statistical office of the Austrian Federal Economic Chamber. In 1959 he habilitated as a professor for statistics at the University of Vienna. Since 1960 he was a member of the Austrian Mathematical Society. At the same year, he moved to the University of Cologne, where he has held two chairs, one after the other, from 1960 to 1964 for economic and social statistics and from 1964 until his retirement in 1995 for mathematical statistics. Pfanzagl becam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oskar Morgenstern
Oskar Morgenstern (; January 24, 1902 – July 26, 1977) was a German-born economist. In collaboration with mathematician John von Neumann, he is credited with founding the field of game theory and its application to social sciences and strategic decision-making. He also made significant contributions to decision theory (see von Neumann–Morgenstern utility theorem). He served as a consultant or co-founder for companies including the Market Research Corporation of America and the original Mathematica Inc. Biography Morgenstern was born in Görlitz in the Prussian Province of Silesia. His mother was rumored to be a daughter of Emperor Frederick III. Morgenstern grew up in Vienna, Austria, where he attended university. In 1925, he graduated from the University of Vienna with a PhD in political science. From 1925 to 1928, he undertook a three-year fellowship financed by the Rockefeller Foundation. After his return in 1928, he became a professor of economics at the Unive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
