Notes on the Economics of Game Theory - Part III
The limitations of this approach are immediately evident. It is
definitely not geared to cope well with more complex,
multi-player, semi-cooperative (semi-competitive), imperfect
information situations.
Von Neumann proved that there is a solution for every ZSG with 2
players, though it might require the implementation of mixed
strategies (strategies with probabilities attached to every move
and outcome). Together with the economist Morgenstern, he
developed an approach to coalitions (cooperative efforts of one
or more players