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John von Neumann between Physics and Economics: A methodological note

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  • LUCA LAMBERTINI

    (University of Bologna)

Abstract

A methodological discussion is proposed, aiming at illustrating an analogy between game theory in particular (and mathematical economics in general) and quantum mechanics. This analogy relies on the equivalence of the two fundamental operators employed in the two fields, namely, the expected value in economics and the density matrix in quantum physics. I conjecture that this coincidence can be traced back to the contributions of von Neumann in both disciplines.

Suggested Citation

  • Luca Lambertini, 2013. "John von Neumann between Physics and Economics: A methodological note," Review of Economic Analysis, Digital Initiatives at the University of Waterloo Library, vol. 5(2), pages 177-189, December.
    • Handle: RePEc:ren:journl:v:5:y:2013:i:2:p:177-189
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    More about this item

    Keywords

    expected value; density matrix; uncertainty; quantum games;
    All these keywords.

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General

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