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" If two or more persons exchange goods with each other, then the result for each one will depend in general not merely upon his own actions but on those of the others as well. "
Enlarging economic doctrine - Página 31
por United States. Congress. House. Committee on Interstate and Foreign Commerce. Subcommittee on Energy and Power - 1976
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Knowledge, Belief, and Strategic Interaction

Carol and Michael Lowenstein Endowed Term Chair Cristina Bicchieri, Cristina Bicchieri, Maria Luisa Dalla Chiara, Maria Luisa Dalla Chiara Scabia - 1992 - 413 páginas
...case, the authors argue, the result for each will depend in general not merely upon his own action but on those of the others as well. Thus each participant attempts to maximize a function ... of which he does not control all the variables. (1953, p. 11) This is a problem, they suggest,...
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Finding Philosophy in Social Science

Mario Bunge, Professor Mario Bunge - 1996 - 432 páginas
...the people with whom we interact. Von Neumann and Morgenstern (1947, 11) admitted this fatal flaw: "If two or more persons exchange goods with each other,...Thus each participant attempts to maximize a function . . . of which he does not control all variables." Shorter: Utility-maximization problems are not mathematically...
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Fuzzy Reasoning in Decision Making and Optimization

Christer Carlsson, Robert Fuller - 2001 - 338 páginas
...case of two or more persons exchanging goods with each others ([261], page 11): . . . then the results for each one will depend in general not merely upon his own actions but on those of others as well. Thus each participant attempts to maximize a function ... of which he does not control...
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Decisions, Uncertainty, and the Brain: The Science of Neuroeconomics

Paul W. Glimcher - 2004 - 400 páginas
...entirely different nature. He too tries to obtain an optimum result. But in order to achieve this, he must enter into relations of exchange with others. If two...more persons exchange goods with each other, then the results for each one will depend in general not merely upon his own actions but on those of the others...
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A Beautiful Math: John Nash, Game Theory, and the Modern Quest for a Code of ...

Tom Siegfried - 2006 - 272 páginas
...your ability to achieve your desired utility — are inevitably intertwined with the choices of the others. "If two or more persons exchange goods with...his own actions but on those of the others as well," von Neumann and Morgenstern declared.18 Mathematically, that meant that no longer could you simply...
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Microeconomics: Optimization, Experiments, and Behavior

John P. Burkett - 2006 - 352 páginas
...trouble was expressed by two pioneers of game theory, John von Neumann and Oskar Morgenstern, as follows: If two or more persons exchange goods with each other,...general not merely upon his own actions but on those of others as well. Thus each participant attempts to maximize a function . . . of which he does not control...
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Coordination, Organizations, Institutions, and Norms in Agent Systems III ...

Jaime Simão Sichman, Julian Padget, Sascha Ossowski, Pablo Noriega - 2008 - 331 páginas
...cannot be guaranteed in a complex society). If two or more persons exchange goods with one another, then the result for each one will depend in general...his own actions but on those of the others as well [8]. Therefore, to make these exchanges possible, behavioral rules that govern the way in which individuals...
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