(This article originally appeared in Management Science, November 1967, Volume 14, Number 3, pp. 159--182, published by The Institute of Management Sciences.) The paper develops a new theory for the analysis of games with incomplete information where the players are uncertain about some...

Parts I and II of this paper have described a new theory for the analysis of games with incomplete information. Two cases have been distinguished: consistent games in which there exists some basic probability distribution from which the players' subjective probability distributions can be...

The von Neumann-Morgenstern theory yields a determinate solution (a unique payoff vector) only for the two-person zero-sum game and some other special cases. But if we adopt a small number of additional rationality postulates we obtain determinate solutions for all known classes of games. The...