ABSTRACT

Game theory has already observed the passage of its fiftieth birthday; that is, if one accepts the conventional chronology which places its birth at the publication of Theory of Games and Economic Behavior (TGEB) by Von Neumann and Morgenstern (1944). This anniversary evidently did not escape the notice of the Academy of Stockholm, which in 1994 awarded the Nobel Prize in Economic Sciences to three game theorists, Nash, Harsanyi, and Selten. A look back at its brief history brings out several troubling similarities with economic science, in places where one might not expect to find them.