Theory of Games and Economic Behavior Quotes

“An important viewpoint in classifying games is this: Is the sum of all payments received by all players (at the end of the game) always zero; or is this not the case? If it is zero, then one can say that the players pay only to each other, and that no production or destruction of goods is involved. All games which are actually played for entertainment are of this type. But the economically significant schemes are most essentially not such. There the sum of all payments, the total social product, will in general not be zero, and not even constant. I.e., it will depend on the behavior of the players—the participants in the social economy. This distinction was already mentioned in 4.2.1., particularly in footnote 2, p. 34. We shall call games of the first-mentioned type zero-sum games, and those of the latter type non-zero-sum games.”
― John von Neumann, Theory of Games and Economic Behavior

“It is a well known phenomenon in many branches of the exact and physical sciences that very great numbers are often easier to handle than those of medium size. An almost exact theory of a gas, containing about 1025 freely moving particles, is incomparably easier than that of the solar system, made up of 9 major bodies; and still more than that of a multiple star of three or four objects of about the same size. This is, of course, due to the excellent possibility of applying the laws of statistics and probabilities in the first case.”
― John von Neumann, Theory of Games and Economic Behavior

“system”
― John von Neumann, Theory of Games and Economic Behavior

“The classical definitions of free competition all involve further postulates besides the greatness of that number. E.g., it is clear that if certain great groups of participants will—for any reason whatsoever—act together, then the great number of participants may not become effective; the decisive exchanges may take place directly between large “coalitions,”1 few in number, and not between individuals, many in number, acting independently. Our subsequent discussion of “games of strategy” will show that the role and size of “coalitions” is decisive throughout the entire subject.”
― John von Neumann, Theory of Games and Economic Behavior