6.13. Game theory. Zero-sum games and minimax criterion: matrix and graphical resolutions
The modern Game Theory was officially born when an article was written by John von Neumann in 1928, called On the Theory of Games of Strategy, and a following book, by John von Neumann and Oskar Morgestern, Theory of Games and Economics Behavior was published in 1944.
The Game Theory is adopted in economics when there are more decision-makers and the objective function of one decision-maker also depends on the choices (or strategies) of the other decision maker.
As the situation represented is essentially similar to what happens in a game (e.g., chess or cards), the terminology is often taken from the games (i.e., player, payoff, loss, move, strategy
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