Von Neumann's work in game theory culminated in the 1944 book The " Theory of Games and Economic Behavior " by von Neumann and Oskar Morgenstern.
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His paper was followed by the 1944 book " Theory of Games and Economic Behavior ", co-written with Oskar Morgenstern, which considered cooperative games of several players.
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The field of game theory came into being with the 1944 classic " Theory of Games and Economic Behavior " by John von Neumann and Oskar Morgenstern.
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The concept of the mixed-strategy Nash equilibrium was introduced by John von Neumann and Oskar Morgenstern in their 1944 book " The Theory of Games and Economic Behavior ".
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In 1944, Austrian economist Oskar Morgenstern presented a rigorous schematization of an ordinal utility function ( the Von Neumann Morgenstern utility theorem ) in Theory of Games and Economic Behavior.
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The result was his two-volume " Game Theory and the Social Contract ", an ambitious attempt to lay the foundations for a genuine science of morals using the theory of games.
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Research interests have covered welfare and development economics; the economics of technological change; population, environmental, and resource economics; social capital; the theory of games; the economics of global warming, and the economics of malnutrition.
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Their book published in 1944, " The Theory of Games and Economic Behavior, " was the first to delve deeply into the likely consequences of strategic interactions, where all the actors must consider the potential for reaction.
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For his influential reviews of work on the theory of games of incomplete formation, theory of automata, and the theory of repeated play games as they apply to political relationships, as well as for his extensive editorial work.
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John von Neumann and Oskar Morgenstern suggested solving zero-sum, two-person games by backward induction in their " Theory of Games and Economic Behavior " ( 1944 ), the book which established game theory as a field of study.