Gottingen, Germany. John von Neumann reveals the proof of his MiniMax Theorem. It will be published in 1928 under the title “On the Theory of Parlour Games,” and will definitively establish game theory as a scientific discipline, framing cooperation between people in mathematical terms. He considers the game to consist of chance (draws) and free will (steps, decisions), with each player ultimately receiving a payout based on the outcome. He assumes that all players are perfectly rational, and therefore seek to minimize their maximum loss (minimax).
