Oskar Morgenstern

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Oskar Morgenstern (born January 24, 1902 in Görlitz , Province of Silesia , Prussia; † July 26, 1977 in Princeton , USA ) was an Austrian- American economist and, together with John von Neumann, the founder of game theory .


Oskar Morgenstern was the son of the businessman Wilhelm Morgenstern and Margarete Teichler; his parents moved to Vienna in 1914. Morgenstern was also granted Austrian citizenship in 1925 and US citizenship in 1944. During his studies at the University of Vienna he attended lectures by Ludwig von Mises . As the successor to Friedrich August von Hayek, he was director of the Austrian Institute for Economic Research and from 1935 to 1938 professor in Vienna. In 1938 he emigrated to the USA, where he became professor at Princeton University and director of the Economic Research Program.

With their book The Theory of Games and Economic Behavior published in 1944, Oskar Morgenstern and John von Neumann established game theory. It is controversial what part von Neumann actually had in the work. It is now assumed that John von Neumann is responsible for most of the scientific presentation.

In 1963, Morgenstern and Paul F. Lazarsfeld founded the Institute for Advanced Studies (IHS) in Vienna, which he headed for a year from September 1965. He later returned to the USA. In 1976 he was accepted into the American Academy of Arts and Sciences .

In November 2012, the Oskar-Morgenstern-Platz in Vienna- Alsergrund (9th district) was named after him; since summer 2013, both the Faculty of Economics and the Faculty of Mathematics of the University of Vienna have been located here.

In 2013, the University of Vienna awarded the Oskar Morgenstern Medal for the first time ; the first recipient of this award is the Nobel laureate in economics, Roger B. Myerson . In 2015 Robert F. Engle , 2017 Ernst Fehr and 2019 Christopher Pissarides were awarded the Oskar Morgenstern Medal.

Publications (selection)

  • 1928 Economic Forecast: An Examination of Its Requirements and Possibilities
  • 1934 The limits of economic policy
  • 1935 The Time Moment in Value Theory
  • 1935 Perfect Foresight and Economic Equilibrium
  • 1936 Logistics and the Social Science
  • 1944 Theory of Games and Economic Behavior , with John von Neumann
  • 1948 Demand Theory Reconsidered
  • 1949 Economics and the Theory of Games (Kyklos)
  • 1950 On the Accuracy of Economic Observations
  • 1951 Prolegomena to a Theory of Organization
  • 1954 Experiment and Large-Scale Computation in Economics , Economic Activity Analysis
  • 1956 Generalization of the von Neumann Model of an Expanding Economy , with JG Kemey and GL Thompson, (Econometrica)
  • 1959 The Question of National Defense
  • 1970 Predictability of Stock Market Prices , with CWJ Granger
  • 1972 Thirteen Critical Points in Contemporary Economic Theory
  • 1972 Descriptive, Predictive and Normative Theory (Kyklos)
  • 1976 Collaborating with von Neumann
  • 1976 Mathematical Theories of Expanding and Contracting Economies , with GL Thompson
  • 1979 Some Reflections on Utility. In: The Expected Utility Hypothesis and the Allais Paradox , (Ed. M. Allais e O. Hagen), D. Reidel, Dordrecht.


Web links

Individual evidence

  1. Joachim Behnke : Decision and game theory. Baden-Baden 2013, p. 9.
  2. A treatise on the three decades of establishing a center for social science research ( Memento of the original from March 4, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. . Retrieved December 6, 2014. @1@ 2Template: Webachiv / IABot / www.uni-graz.at
  3. ^ Oskar Morgenstern Medal - Prize winners . Retrieved October 28, 2019.