The Contributions Of John Von Neumann's Game Theory

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John von Neumann was born Neumann Janos Lajos on December 28th, 1903 in Budapest. His family of 5 was prosperous, mainly attributed to John's dad, who was a banker, John's mom came from a family that sold farm equipment. John was a precocious child, possessing the ability to divide multi-digit numbers in his head and memorize telephone pages wholly at the young age of 6, he was also accustomed to differential and integral calculus at 8. John's talent was fostered by governesses before he enjoyed a superb education at the Fasori Gymnasium in 1911, where he was discerned by a math teacher who cultivated his aptitude for math. Subsequent his secondary education, John's father advised him to study chemistry, they arrived at a compromise, John…show more content…
John von Neumann introduced Game theory in 1928 when he proved his minimax theorem, the theorem postulates that in a zero-sum game (a confrontation with a persons gain being of opposite value to the competitors loss) with perfect information, certain strategies can minimize their maximum losses, to perceive one of these strategies, the player has to consider the responses of his opponent. Von Neumann extended the theorem to assimilate games with imperfect information and multiple players in a book published in 1944 (Theory of Games and Economic Behavior). Ever since then, Game theory matured and started getting applied in various fields. Game theory is now prevalent in society; it's applied in economics, political science, psychology, and computer science among other things, in the defined fields, the theory was/is imperative to their development. Game theory affects the daily lives of everyone, prices are/can dependent on game theory, game theory can affect how laws are structured, aspects of computing are influenced by game theory, and that's just the tip of the
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