The loitering presence of the rational actor

Sigmund, K. (2009). The loitering presence of the rational actor. American Scientist 97 (6) 510-513. 10.1511/2009.81.510.

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Humans are social animals, and so were their ancestors, for millions of years before the first campfires lighted the night. But only recently have humans come to understand the mathematics of social interactions. The mathematician John von Neumann and the economist Oskar Morgenstern were the first to tackle the subject, in a book they were planning to call A General Theory of Rational Behavior. By the time it was published in 1944, they had changed the title to Game Theory and Economic Behavior, an inspired move. The book postulated, as did all follow-up texts on game theory for generations, that players are that they can figure out the payoff of all possible moves and always choose the most favorable one...

Item Type: Article
Research Programs: Evolution and Ecology (EEP)
Bibliographic Reference: [[American Scientist]], 97(6):510-513 (November-December 2009)
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 08:42
Last Modified: 27 Aug 2021 17:38

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