Rational Decisions (The Gorman Lectures in Economics) by Ken Binmore

Author:Ken Binmore
Language: eng
Format: mobi, pdf
Publisher: Princeton University Press
Published: 2008-12-28T14:00:00+00:00

6.3 Richard von Mises

Richard von Mises was the younger brother of Ludwig von Mises, who is still honored as a leading member of the Austrian school of economics. However, Richard’s espousal of the logical positivism of the Vienna circle put him at the opposite end of the philosophical spectrum to his brother.

His professional career was in engineering, especially aerodynamics. He flew as a test pilot for the Austro-Hungarian army in the First World War, but when the Nazis came to power, his Jewish ancestry made it prudent for him to take up a position in Istanbul. Eventually he was appointed to an engineering chair at Harvard in 1944. As with Von Neumann, his contributions to decision theory were therefore something of a sideline for him.

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