Show Summary Details

p. 11. The name of the gamelocked

  • Ken Binmore

Abstract

‘The name of the game’ gives a brief introduction to game theory. Game scenarios are all around us, and a theory which predicts how people will behave in such games would be very useful indeed! However, game theory only works when people behave rationally. John Von Neumann devised the minimax theorem during the Cold War. He also outlined the concept of utility, which assigns a numerical value to each outcome of a game and ranks them on a scale. The Nash equilibrium describes scenarios when both players may be best served by cooperation instead of conflict, and is famously modelled in the Prisoner's Dilemma.

Access to the complete content on Very Short Introductions online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can't find the answer there, please contact us.