A zero-sum game is a mathematical representation, in game theory and economics, of a situation between two competing parties in which one side's gain is exactly matched by the other side's loss, so the total gains and losses sum to zero. Everyday examples include poker, chess and cutting a cake, and futures contracts and options are zero-sum in financial markets. Zero-sum games are most often solved with the minimax theorem or with Nash equilibrium, in contrast to positive-sum games such as the Prisoner's Dilemma, where total gains and losses can exceed zero. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/
Facts
Origin YearMarks von Neumann and Morgenstern own formal proof, in Theory of Games and Economic Behavior, that any non-zero-sum game is equivalent to a larger zero-sum game; von Neumann earlier 1928 minimax theorem for two-person zero-sum games is not independently sourced here. Connections
Associated With
Von Neumann's 1928 minimax theorem, about two-player zero-sum games and considered the starting point of game theory, proves optimal strategies exist for exactly this kind of game.
Additional Source Zero-Sum Game (Wikipedia)Lead section
Von Neumann and Morgenstern first proved a mixed-strategy equilibrium exists for any zero-sum game; Nash's 1951 result generalized that same equilibrium concept beyond the zero-sum case.
Additional Source Zero-Sum Game (Wikipedia)Lead section
In Branch
Source Zero-Sum Game (Wikipedia)
Sources
1. Zero-Sum Game (Wikipedia)
Wikimedia FoundationLead section
Zero-sum game is a mathematical representation in game theory and economic theory of a situation that involves two competing entities, where the result is an advantage for one side and an equivalent loss for the other
Extensions section
In 1944, John von Neumann and Oskar Morgenstern proved that any non-zero-sum game for n players is equivalent to a zero-sum game with n + 1 players.
In Branch: Game Theory, Lead sentence
Zero-sum game is a mathematical representation in game theory and economic theory of a situation that involves two competing entit
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