Oskar Morgenstern

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Morgenstern, Oskar

 

Born Jan. 24, 1902, in Goerlitz, Germany. American economist.

Morgenstern was educated in universities in Western Europe and the USA. From 1929 to 1938 he taught economic theory and statistics at the University of Vienna. From 1931 to 1938 he was director of the Austrian Institute of Business Cycle Research. Since 1938 he has taught political economy and directed a program in econometric research at Princeton University.

Accepting the basic hypotheses of bourgeois political economy, Morgenstern has devoted his greatest attention to the refinement and further development of modes and methods of statistical and mathematical analysis of economic problems. He is the author of a number of works on economic cycles, international trade, and the methodology of economic and statistical analysis. Morgenstern admits that bourgeois statistical science is far from perfect. He won renown as the creator, along with J. Von Neumann, of the theory of games. The basic flaw in Morgenstern’s thinking results from his attempt to use mathematics to resolve the contradictions of capitalism.

WORKS

On the Accuracy of Economic Observations, 2nd ed. Princeton, 1963.
Von Neumann, J., and O. Morgenstern. Teoriia igr i ekonomicheskoe povedenie. Moscow, 1970. (Translated from English.)
References in periodicals archive ?
During the Second World War, while trapped in the USA by Hitler's Anschluss, the Austrian economist Oscar Morgenstern collaborated with von Neumann on a book that became a classic text in game theory: Theory of Games and Economic Behavior.
1) John von Neumann and Oscar Morgenstern, Theory of Games and Economic Behavior (New Jersey: Princeton University Press, 1944).
Based on Stark's presentations as the Oscar Morgenstern Memorial Lecturer in Vienna, the book explores altruistic behaviors in a variety of circumstances, challenging the reader to consider further extensions in both the developing and developed economies.