Coauthor of Theory of Games and Economic Behavior (1944) with Oskar Morgenstern
, widely recognized as the first formal
treatment of game theory. These concepts grew out of von Neumann's earlier work on the minimax theorem and on backward induction
, and were later generalized by John Nash
von Neumann was a faculty member at Princeton University from 1930, and at its Institute for Advanced Study, from its founding in 1933. His contributions extended well beyond economics. He is credited with notable advances in computer science and quantum mechanics.
"If people do not believe that mathematics is simple, it is only because they do not realize how complicated life is." -JvN
updated: 26 December 2006 (previous version)
HOW TO CITE THIS ENTRY
- To learn more:
- Try the normal-form game solver to automatically calculate equilibria on the applets page.
- Take an online quiz on finding equilibria in games.