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...theory with his work in the fields of econometrics and the theory of games (Theory of Games and Economic Behavior, co-authored with John von Neumann; The Limits of Economics); of cancer; in Princeton, N.J. Morgenstern noted that classical economics -and many of its "neoclassical" adherents-has exhibited a dismal track record in predicting and interpreting phenomena. After viewing numerous examples of multivariable decision making in game situations (poker was a Morgenstern favorite), he used mathematics, logic and the relatively simple economic-behavioral concept of "utility maximization" to devise a general theoretical framework which often demonstrated remarkable predictive power...

Author: /time Magazine | Title: Milestones, Aug. 8, 1977 | 8/8/1977 | See Source »

...minute parking reports. Flow Through: good. Curbside checkin. Plentiful baggage carts. Seven near-identical, two-story terminals connected by buses (25?). Longest walk: 1,320 ft. Baggage checkout: good. Hotels/Motels: good. Hyatt House adjoins airport, at least eleven hotels or motels within 5 min. Amenities: dismal, though waiting lounges are spacious and airy. One coffee shop in each terminal. Cafeterias offer prewrapped food on Styrofoam dishes. Only one sitdown restaurant, attractive Host International. Two bars each terminal, open 7:30 a.m. to 1 a.m. Shopping facilities: minimal. One barbershop. Emergency treatment center attended by paramedics (24 hr.), but 13 hospitals...

Author: /time Magazine | Title: Living: TIME'S Guide to Airports: Jet Lag on the Ground | 7/18/1977 | See Source »

...expressionism is feeble and disconnected. If one wanted, for instance, to demonstrate the European context of Jackson Pollock's drip-drawing, one would show the appropriate works by Masson and Ernst, not the empty doodle by Georges Mathieu that hangs next to Pollock's Number 32. The dismal efforts of French artists to turn their Dada heritage into American Pop are much in evidence. But it is one thing to dis inter the unmourned trivialities of people like Martial Raysse and quite an other to claim that they have any historical weight. There is no level on which...

Author: /time Magazine | Title: Art: The Botch of an Epic Theme | 7/11/1977 | See Source »

Good Weather. Despite the dismal future facing most refugees, good weather at sea has led to an increasing number of escape attempts in the past two months. Since April, 244 Vietnamese have made the 1,000-mile crossing to Hong Kong; they were accepted when the U.N. guaranteed that it would cover their expenses and speed their departure after three months. About 2,000 have arrived in Malaysia, Indonesia, Singapore and the Philippines. Most are packed into squalid refugee camps, hoping for resettlement elsewhere...

Author: /time Magazine | Title: The World: Refugees: Seeking Safe Harbor | 7/4/1977 | See Source »

Hopkins missed the first tournament because of a dismal 3-7 regular-season record, but has since won a berth six straight years. The Blue Jays took the title in 1974 with a sterling senior class that had lost the two previous championship games, each time by a single goal. That would satisfy most schools, but not Johns Hopkins. The Blue Jays have garnered 27 national titles, generally by being the best more often than once in six years. They're hungry for another title this time around...

Author: By David Clarke, | Title: NCAA Lacrosse Tournament Heats Up | 5/19/1977 | See Source »

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