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Oskar Morgenstern and the Game Theory

Oskar Morgenstern and the Game Theory

Harald Sack
On January 24, 1902, German-American economist and mathematician Carl Friedrich Alfred Oskar Morgenstern was born. Morgenstern popularized “game theory” which mathematically analyzes behaviour of man or animals in terms of strategies to maximize gains and minimize losses. He coauthored Theory of Games and Economic Behavior (1944), with John von Neumann, which extended Neumann‘s 1928 theory of games of strategy to competitive business situations.[4] “As far as the use of mathematics in economics…
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mathematics
Jerzy Neyman – Architect of Modern Theoretical Statistics

Jerzy Neyman – Architect of Modern Theoretical Statistics

Harald Sack
On April 16, 1894, Polish mathematician and statistician Jerzy Neyman was born. Neyman was one of the principal architects of modern theoretical statistics. He first introduced the modern concept of a confidence interval into statistical hypothesis testing and co-devised null hypothesis testing in collaboration with Egon Pearson. “Statistics is the servant to all sciences.”, Jerzy Neyman Youth and Education Jerzy Neyman was born into a Polish family in Bendery, in the Bessarabia…
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