HARSANYI, John Charles. Games with Incomplete Information Played By “Bayesian” Players, Part I-III [all published].
Berkeley: University of California, 1968. Offprints / first seperate editions.

A fine set of the three path-breaking papers for which Harsanyi was awarded the Nobel Prize in Economics in 1994 together with John Nash and Reinhard Selten. "John Harsanyi's three-part essay 'Games with Incomplete Information Played by Bayesian Players' should be read today with a view to its place in the history of economic thought. It is one of the great papers that gave birth to modern information economics. Other outstanding papers in this group include William Vickrey's (1961) paper on auctions, George Akerlof's (1970) "Market for Lemons," Michael Spence's (1973) "Job Market Signaling," and Michael Rothschild and Joseph Stiglitz's (1976) paper on insurance markets. But Harsanyi's contribution holds a unique place in this group of Nobel prize-winners. Each of the other papers analyzed one specific example of a market where people have different information. Harsanyi alone addressed the problem of how to define a general analytical framework for studying all competitive situations where people have different information. The unity and scope of modern information economics was found in Harsanyi's framework." (Roger B. Myerson: Management Science, vol. 50, pp. 1818-1824, 2004). “Prior to Harsanyi’s path breaking three-part article, ‘Games with Incomplete Information Played by Bayesian Players’ (1967–1968), little progress had been made in analyzing games of incomplete information. Harsanyi’s conceptual breakthrough was to recognize that it is possible to embed a game of incomplete information into a larger game of complete information and use it to determine equilibrium behavior in the original game.” (DSB: XXI, p.250). These three papers were originally published in November 1967; January 1968; March 1968, respectfully, in the journal Management Science. However, we can locate no direct offprints issued by the journal, and these three seperate printings from 1968, issued by the University of California (were Harsanyi at that time was employed), were most probably planed at an early stage (all three parts are announced in the title of the first paper) and direct journal offprints would have been redundant.

Three offprints. 8vo: 242 x 161 mm. Original printed wrappers; Part III a little sunned, otherwise very fine and clean. WorldCat lists no copies of of any parts of these seperate printings.

[Item #2292]
Price: €3,600.00



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