John von Neumann's Contribution to Modern Game Theory

Forgó, Ferenc (2004) John von Neumann's Contribution to Modern Game Theory. Acta Oeconomica, 54 (1). pp. 73-84. ISSN 0001-6373

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Abstract

The paper gives a brief account of von Neumann's contribution to the foundation of game theory: definition of abstract games, the minimax theorem for two-person zero-sum games and the stable set solution for cooperative games with side payments. The presentation is self-contained, uses very little mathematical formalism and caters to the nonspecialist. Basic concepts and their implications are in focus. It is also indicated how von Neumann's groundbreaking work initiated further research, and a few unsolved problems are also mentioned.

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