Such strategies, which minimize the maximum loss for each player, are called optimal. Von Neumann showed that their minimaxes are equal (in absolute value) and contrary (in sign). Von Neumann improved and extended the minimax theorem to include games involving imperfect information and games with more than two players, publishing this result in his 1944 Theory of Games and Economic Behavior (written with Oskar Morgenstern). Morgenstern wrote a paper on game theory and thought he would show it to von Neumann because of his interest in the subject. He read it and said to Morgenstern that he should put more in it. This was repeated a couple of times, and then von Neumann became a coauthor and the paper became 100 pages long. Then it became a book. The public interest in this work was such that The New York Times ran a front-page story. In this book, von Neumann declared that economic theory needed to use functional analytic methods, especially convex sets and topological fixed-point theorem, rather than the traditional differential calculus, because the maximum-operator did not preserve differentiable functions.
Who was co-author with von Neman on the Theory of Games and Economic Behavior?
Oskar Morgenstern