ABSTRACT

Wikipedia's definition of Game Theory is similar to Von Neumann's and Tom Siegfried's and reads: 'Game theory attempts to mathematically capture behavior in strategic situations, which individual's success in making choices depends on the choices of others'. Von Neumann theorized that in multiple-player, zero-sum games that do not include an element of chance, set strategy ascertained and employed that maximized payoff, utility, or at the very least, minimized losses. This theory is called minimax or sometimes minmax. Baseball, bridge, poker, all reduced to mathematical quantifications and predictable strategies undertaken by the players. If concepts such as 'utility' could be sufficiently captured and evaluated mathematically and the parameters of the games used to describe larger reality, then a Code of Nature could actually be within mankind's grasp. A more formal definition from GameTheory.net is: A Nash equilibrium, named after John Nash, is a set of strategies, one for each player, such that no player has incentive to unilaterally change her action.