Monday, May 27, 2019

F.A. Hayek on Economics and Game Theory

Friedrich Hayek 
The Nobel Prize-winning Austrian school economist Friedrich Hayek on game theory:
I don't want to be unkind to my old friend, the late Oskar Morgenstern, but while I think his book is a great mathematical achievement, the first chapter which deals with economics is just wrong. I don't think that game theory has really made an important contribution to economics, but it's a very interesting mathematical discipline.
From  Hayek on Hayek: An Autobiographical Dialogue.

RW note: I'm with Hayek on this.

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