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Single Idea 22719

[filed under theme 23. Ethics / B. Contract Ethics / 6. Game Theory ]

Full Idea

The minimax theorem says that there is always a rational solution to a precisely defined conflict between two people whose interests are completely opposite.

Gist of Idea

The minimax theorem says a perfect game of opposed people always has a rational solution

Source

William Poundstone (Prisoner's Dilemma [1992], 03 'Minimax')

Book Ref

Poundstone,William: 'Prisoner's Dilemma' [OUP 1992], p.62


A Reaction

This is Von Neumann's founding theorem of game theory. It concerns maximising minimums, and minimising maximums. Crucially, I would say that it virtually never occurs that two people have completely opposite interests. There is a common good.