The Theory of Games and Economic Behavior -
John Von Neumann, Oscar Morgenstern
1944 - Princeton University Press, Princeton - First Edition
A fine first edition of Von Neumann and Morgenstern’s monumental presentation of Game Theory, in the rare dust jacket and complete with ‘Corrigenda’ slip. Together with Nobel prize winning economist Richard Stone’s rare and detailed 1948 review of ‘Theory of Games’, finely bound. Each housed in bespoke cloth cases.
‘Game theory, it may reasonably be claimed, has proved to be one of the more significant scientific contributions of the twentieth century. Albeit haltingly and unevenly, and in a manner quite unforeseeable in 1944 when the Theory of Games and Economic Behavior was published, it has affected not only economics and political science but also evolutionary biology, ethics, and philosophy proper. Within economics, particular areas such as microeconomic theory, industrial organization, international trade, and experimental economics have all been reshaped under the theory’s influence.’ (Leonard)
‘The classic work in both game theory and its application to decision-making in economics and business’. (Bernstein).
‘Had it merely called our attention to the existence and exact nature of certain fundamental gaps in economic theory, Theory of Games would have been a book of outstanding importance. But it does more than that. It is essentially constructive: where existing theory is considered to be inadequate, the authors put in its place a highly novel analytical apparatus designed to cope with the problem’. (Hurwicz) John Von Neumann (1903-57) first wrote seriously about games in a 1928 paper, but it was not until this collaboration with Oskar Morgenstern (1902-77) that game theory was presented as an econometric tool. "The method of von Neumann and Morgenstern has become the archetype of later applications of game theory. One takes an economic problem, formulates it as a game, finds the game-theoretic solution, then translates the solution back into economic terms" (New Palgrave). However, "it would be doing the authors an injustice to say that theirs is a contribution to economics only. The scope of the book is much broader. The techniques applied by the authors in tackling economic problems are of sufficient generality to be valid in political science, sociology, or even military strategy. The applicability to games proper (chess and poker) is obvious from the title. Moreover, the book is of considerable interest from a purely mathematical point of view..." (Hurwicz).
In the words of two Nobel Prize winning economists, "a landmark in the history of ideas" and a seminal work in mathematics and economics, which "has had a profound impact on statistics". (Dorfman, Samuelson & Solow)
Theory of Games - First edition with ‘1944’ to title page, and no further printings stated on copyright page (second edition the date changed to ‘1947’ and ‘Second Edition, 1947’ is added to the copyright page). First edition dust jacket with burgundy coloured spine and list of books to rear panel (second edition dust jacket changed the spine colour to white, and printed reviews of the book to the rear panel).
Provenance: From the library of economist and judge the Hon. Stanley C. Wisniewski Ph.D. (Econ.), J.D.
Reference: Bernstein 237 235. Leonoid Hurwicz, The World of Mathematics, II 1267-1284. Robert Leonard, Von Neumann, Morgenstern, and the Creation of Game Theory, 1. Dorfman, Samuelson & Solow, Linear Programming and Economic Analysis, 417, 445.
Theory of Games - Large octavo (book size 24.4x16.8cm), pp. [2] xviii 625 [1] [’Corrigenda’ sheet loosely tipped in] [2]. In publisher’s light brown cloth, spine with gilt title on burgundy, gilt rule and lettering, top edge tinted burgundy. Dust jacket price-clipped to top corner of front flap.
Review - Condition: Theory of Games - fine in very good dust jacket, rear panel with some degradation and loss. Review - fine in fine binding. Cases fine. Ref: 111930 Price: HK$ 120,000
‘Game theory, it may reasonably be claimed, has proved to be one of the more significant scientific contributions of the twentieth century. Albeit haltingly and unevenly, and in a manner quite unforeseeable in 1944 when the Theory of Games and Economic Behavior was published, it has affected not only economics and political science but also evolutionary biology, ethics, and philosophy proper. Within economics, particular areas such as microeconomic theory, industrial organization, international trade, and experimental economics have all been reshaped under the theory’s influence.’ (Leonard)
‘The classic work in both game theory and its application to decision-making in economics and business’. (Bernstein).
‘Had it merely called our attention to the existence and exact nature of certain fundamental gaps in economic theory, Theory of Games would have been a book of outstanding importance. But it does more than that. It is essentially constructive: where existing theory is considered to be inadequate, the authors put in its place a highly novel analytical apparatus designed to cope with the problem’. (Hurwicz) John Von Neumann (1903-57) first wrote seriously about games in a 1928 paper, but it was not until this collaboration with Oskar Morgenstern (1902-77) that game theory was presented as an econometric tool. "The method of von Neumann and Morgenstern has become the archetype of later applications of game theory. One takes an economic problem, formulates it as a game, finds the game-theoretic solution, then translates the solution back into economic terms" (New Palgrave). However, "it would be doing the authors an injustice to say that theirs is a contribution to economics only. The scope of the book is much broader. The techniques applied by the authors in tackling economic problems are of sufficient generality to be valid in political science, sociology, or even military strategy. The applicability to games proper (chess and poker) is obvious from the title. Moreover, the book is of considerable interest from a purely mathematical point of view..." (Hurwicz).
In the words of two Nobel Prize winning economists, "a landmark in the history of ideas" and a seminal work in mathematics and economics, which "has had a profound impact on statistics". (Dorfman, Samuelson & Solow)
Theory of Games - First edition with ‘1944’ to title page, and no further printings stated on copyright page (second edition the date changed to ‘1947’ and ‘Second Edition, 1947’ is added to the copyright page). First edition dust jacket with burgundy coloured spine and list of books to rear panel (second edition dust jacket changed the spine colour to white, and printed reviews of the book to the rear panel).
Provenance: From the library of economist and judge the Hon. Stanley C. Wisniewski Ph.D. (Econ.), J.D.
Reference: Bernstein 237 235. Leonoid Hurwicz, The World of Mathematics, II 1267-1284. Robert Leonard, Von Neumann, Morgenstern, and the Creation of Game Theory, 1. Dorfman, Samuelson & Solow, Linear Programming and Economic Analysis, 417, 445.
Theory of Games - Large octavo (book size 24.4x16.8cm), pp. [2] xviii 625 [1] [’Corrigenda’ sheet loosely tipped in] [2]. In publisher’s light brown cloth, spine with gilt title on burgundy, gilt rule and lettering, top edge tinted burgundy. Dust jacket price-clipped to top corner of front flap.
Review - Condition: Theory of Games - fine in very good dust jacket, rear panel with some degradation and loss. Review - fine in fine binding. Cases fine. Ref: 111930 Price: HK$ 120,000