“The theory of games was first formalised by Von Neumann & Morgenstern (1953) in reference to human economic behaviour. Since that time, the theory has undergone extensive development… Sensibly enough, a central assumption of classical game theory is that the players will behave rationally, and according to some criterion of self-interest. Such an assumption would clearly be out of place in an evolutionary context. Instead, the criterion of rationality is replaced by that of population dynamics and stability, and the criterion of self-interest by Darwinian fitness.”

— John Maynard Smith, book Evolution and the Theory of Games

Source: Evolution and the Theory of Games (1973), p. 1-2.

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "The theory of games was first formalised by Von Neumann & Morgenstern (1953) in reference to human economic behaviour. …" by John Maynard Smith?

John Maynard Smith photo

John Maynard Smith9

British theoretical evolutionary biologist and geneticist 1920–2004

Related quotes

“Analysis of the mathematical form and underlying principles of games was made by von Neumann " as early as 1928. In this early work von Neumann was not so much interested in executive-type problems as he was in the logical foundations of quantum mechanics. It was not until 1944, when von Neumann and Morgenstern published their now well known Theory of Games and Economic Behavior, that the mathematical treatment of games "took fire."”

C. West Churchman (1913–2004) American philosopher and systems scientist

Source: 1940s - 1950s, Introduction to Operations Research (1957), p. 519: Partly cited in: E. Roy Weintraub (1992) Toward a history of game theory. p. 235

“[At Princeton Samuel Wilks…] was the major interest for me… I did have a contact with Oscar Morgenstern… Von Neumann was developing theory of games at the time… but I must say, I really didn't understand it very well when he lectured it.”

Theodore Wilbur Anderson (1918–2016) American statistician

Source: "The ET interview: Professor TW Anderson," 1986, p. 525

“A theory is only as good as its assumptions. If the premises are false, the theory has no real scientific value. The only scientific criterion for judging the validity of a scientific theory is a confrontation with the data of experience.”

Maurice Allais (1911–2010) French economist; 1988 winner of the Nobel Memorial Prize in Economics

L'anisotropie de l'espace. La nécessaire révision de certains postulats des théories contemporaines. Les données de l'expérience (1997), p. 591

“The outcome of a non-constant-sum game may be dictated by the individual rationality of the respective players without satisfying a criterion of collective rationality.”

Anatol Rapoport (1911–2007) Russian-born American mathematical psychologist

Anatol Rapoport. (1974). Game Theory as a Theory of Conflict Resolution p. 4
1970s and later

“Evolutionary game theory is one of the most active and rapidly growing areas of research in economics. Unlike traditional game theory models, which assume that all players are fully rational and have complete knowledge of details of the game, evolutionary models assume that people choose their strategies through a trial-and-error learning process in which they gradually discover that some strategies work better than others. In games that are repeated many times, low-payoff strategies tend to be weeded out, and an equilibrium may emerge.”

Larry Samuelson (1953) American economist

Larry Samuelson. Evolutionary Games and Equilibrium Selection. 1997. Overview.

“Game theory is a theory of strategic interaction. That is to say, it is a theory of rational behavior in social situations in which each player has to choose his moves on the basis of what he thinks the other players’ countermoves are likely to be.”

John Harsanyi (1920–2000) hungarian economist

Source: "Games with Incomplete Information," 1997, p. 136

“Throughout the social sciences today, the dominant form of modeling is based upon the rational-choice paradigm. Game theory, in particular, is typically based upon the assumption of rational choice. In my view, the reason for the dominance of the rational-choice approach is not that scholars think it is realistic. Nor is game theory used solely because it offers good advice to a decision maker, because its unrealistic assumptions undermine much of its value as a basis for advice.”

Robert Axelrod book The Complexity of Cooperation

Introduction
The Complexity of Cooperation (1997)

“My first contact with game theory was a popular article in Fortune Magazine which I read in my last high school year. I was immediately attracted to the subject matter and when I studied mathematics I found the fundamental book by von Neumann and Morgenstern in the library and studied it.”

Reinhard Selten (1930–2016) German economist

"Reinhard Selten - Biographical," 1994

“Following von Neumann and Morgenstern [7, p. 30], we distinguish between games with complete information, to be sometimes briefly called C-games in this paper, and games with incomplete information, to be called I-games. The latter differ from the former in the fact that some or all of the players lack full information about the "rules" of the game, or equivalently about its normal form (or about its extensive form). For example, they may lack full information about other players' or even their own payoff functions, about the physical facilities and strategies available to other players or even to themselves, about the amount of information the other players have about various aspects of the game situation, etc.
In our own view it has been a major analytical deficiency of existing game theory that it has been almost completely restricted to C-games, in spite of the fact that in many real-life economic, political, military, and other social situations the participants often lack full information about some important aspects of the "game" they are playing.”

John Harsanyi (1920–2000) hungarian economist

Source: "Games with Incomplete Information Played by “Bayesian” Players," 1967, p. 163: Lead paragraph's

“The term rationalize refers to any situations in which a person's action is described with reference to some supporting reason or cause. The term “legitimate” refers to one criterion by which rationalizations are selected from the many possible explanations for action. Justifications or rationalizations are selected primarily when they are acceptable explanations in a given social context. This means they fit with the facts as known according to the rules of behavior generally followed.”

Gerald R. Salancik (1943–1996) American organizational theorist

Source: A social information processing approach to job attitudes and task design. 1978, p. 231

Related topics