Routledge Dictionary of Economics, Second Edition
Morgenstern, Oskar, 1902–77 (B3)
A German-American mathematical economist, born in Silesia, Germany, but educated at the University of Vienna. In his early career he was Director of the Austrian Institute for Business Cycle Research from 1931 to 1938 and professor of Vienna University from 1931 to 1938, when he was also a member of the Vienna Circle of philosophers and mathematicians.
In 1938, the Nazi occupation of Austria led to his dismissal from the university and emigration to the USA. At Princeton University, he fruitfully collaborated with NEUMANN, persuading him to apply GAME THEORY to economics: their collaboration resulted in The Theory of Games and Economic Behaviour (1944). His later work included books on economic prediction and aspects of US defence.
References
Morgenstern, O. (1965) On the Accuracy of Economic Observations, 2nd edn, Princeton, NJ: Princeton University Press.
——(1970) The Predictability of Stock Market Prices, Lexington, MA: Lexington Books.
This is the complete article, containing 145 words
(approx. 1 page at 300 words per page).
View More Summaries on Oskar Morgenstern
