ABSTRACT
Game theory, first developed by John von Neumann (1903-1957), posited that every decision can be reduced to a series of choices, or strategies, which are designed to maximize the return, or "winnings," for the player. Games are usually considered under two aspects: the zerosum game and the nonzero-sum game. In a zerosum game, for every winner there is an equivalent loser; in a nonzero-sum game, on the other hand, all parties are capable of gaining, although there is still typically a discernible winner.
