Suchergebnisse
Suchergebnisse:
Von Neumann, J., & Morgenstern, O. (1947). Theory of games and economic behavior (2nd rev. ed.). Princeton University Press. Abstract. The second edition of this book is essentially an unchanged reprint of the first edition (see 19: 500). An appendix containing an axiomatic derivation of numerical utility has been added. (PsycINFO Database ...
- Theory of games and economic behavior.
Von Neumann, J., & Morgenstern, O. (1944). Theory of games...
- Theory of games and economic behavior.
In 1947, John von Neumann and Oskar Morgenstern proved that any individual whose preferences satisfied four axioms has a utility function; [1] such an individual's preferences can be represented on an interval scale and the individual will always prefer actions that maximize expected utility.
Von Neumann, J., & Morgenstern, O. (1944). Theory of games and economic behavior. Princeton University Press. Abstract. The authors analyze some fundamental questions of economic theory in terms of a mathematical theory of games. The common elements of economic behavior and such factors as strategy in games are presented, and the interrelated ...
- John von Neumann, Oskar Morgenstern
- 1944
5.1. It should be clear from the discussions of Chapter I that a theory of rational behavior—i.e. of the foundations of economics and of the main mechanisms of social organization—requires a thorough study of the “games of strategy.”. Consequently we must now take up the theory of games as an independent subject.
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.
- John von Neumann, Oskar Morgenstern
- xviii, 625 p. (1st edition)
- 1944
- 1944
19. März 2007 · 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 ...
Von Neumann–Morgenstern utility function, an extension of the theory of consumer preferences that incorporates a theory of behaviour toward risk variance. It was put forth by John von Neumann and Oskar Morgenstern in Theory of Games and Economic Behavior (1944) and arises from the expected utility.
