What is John von Neumann known for?
John von Neumann is perhaps best known known for his work in the early development of computers: As director of the Electronic Computer Project at Princeton’s Institute for Advanced Study (1945-1955), he developed MANIAC (mathematical analyzer, numerical integrator and computer), which was at the time the fastest …
What is the concept of game theory?
Game theory is a theoretical framework to conceive social situations among competing players and produce optimal decision-making of independent and competing actors in a strategic setting.
What did John Forbes Nash Jr discover?
In 1978, Nash was awarded the John von Neumann Theory Prize for his discovery of non-cooperative equilibria, now called Nash Equilibria. He won the Leroy P. Steele Prize in 1999.
What was von Neumann’s contribution to game theory?
Von Neumann’s original proof used the Brouwer fixed-point theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathematical economics. His paper was followed by the 1944 book Theory of Games and Economic Behavior, co-written with Oskar Morgenstern,…
Who is the founder of game theory?
Theory of Games and Economic Behavior, published in 1944 by Princeton University Press, is a book by mathematician John von Neumann and economist Oskar Morgenstern which is considered the groundbreaking text that created the interdisciplinary research field of game theory.
Who is John von Neumann?
John von Neumann: The Scientific Genius Who Pioneered the Modern Computer, Game Theory, Nuclear Deterrence, and Much More. Pantheon Press. ISBN 978-0-679-41308-0. Description, contents, incl. arrow-scrollable preview, & review. Mirowski, Philip (2002). Machine Dreams: Economics Becomes a Cyborg Science. New York: Cambridge University Press.
What is the first theorem in game theory?
The first theorem in this sense is von Neumann ‘s minimax theorem from 1928, which was considered the starting point of game theory. Since then, several generalizations and alternative versions of von Neumann’s original theorem have appeared in the literature. The function f ( x, y )= y2 – x2 is concave-convex.