MINIMAX STRATEGY
Charles François (2004). MINIMAX STRATEGY, International Encyclopedia of Systems and Cybernetics, 2(2): 2132.
| Collection | International Encyclopedia of Systems and Cybernetics |
|---|---|
| Year | 2004 |
| Vol. (num.) | 2(2) |
| ID | ◀ 2132 ▶ |
| Object type | Methodology or model |
An operation research method which “computes the maximum risk and then selects the strategy which minimizes this” (1968, p.209).
This strategy is a result of J.von NEUMANN minimax theorem, according to which, between two players “the maximum of one's minimum is the minimum of the other's maximum” (D. RUELLE, 1991, p.52).
von NEUMANN demonstrated his theorem in 1928. It became the bedrock of the Theory of Games , fully developped by him and Oskar MORGENSTERN in their 1944 book “The Theory of Games and Economic Behavior ”