Original Position - History

History

The concept of the original position was first used by the Hungarian economist John Harsanyi. Harsanyi argued that a person in the original position would maximize his or her expected utility, rather than choosing minimax.

Read more about this topic:  Original Position

Famous quotes containing the word history:

    The greatest honor history can bestow is that of peacemaker.
    Richard M. Nixon (1913–1995)

    The reverence for the Scriptures is an element of civilization, for thus has the history of the world been preserved, and is preserved.
    Ralph Waldo Emerson (1803–1882)

    Gossip is charming! History is merely gossip. But scandal is gossip made tedious by morality.
    Oscar Wilde (1854–1900)