Theory of Games and Economic Behavior

E-130: Princeton University Press. Very Good in Good dust jacket. 1955. Second Edition; Second Printing. Hardcover. Hardcover. 8vo. Princeton University Press. 1947. Xviii, 641 pgs. Illustrated with 103 figures. Second Edition/First Printing. DJ has shelf-wear present (chip present to the crown & heel of the DJ spine). Bound in cloth boards. Boards have shelf-wear present to the extremities. No ownership marks present. Text is clean and free of marks. Binding tight and solid. "The notions of a minimax solution, first proposed by Waldgrave, and of maximization of expected utility, diminishing marginal utility, and risk aversion put forward by Daniel Bernoulli (1738) in his analysis of the St. Petersburg paradox, lie at the core of game theory. These elements were not assembled until von Neumann and Morgenstern (1944) noted in an appendix on axiomatic utility theory in their second edition (1947, 629) that Bernoulli's moral expectation, which equated ability to the logarithm of wealth, satisfied their conditions for rationality" 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. E-130; 8vo 8" - 9" tall; 641 pages .