answersLogoWhite

0


Best Answer

The Nash equilibrium describes a type of game theory. In this theory based around uncooperative games, it's stated that no player has anything to gain by only changing their strategies.

User Avatar

Wiki User

10y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is the concept of the Nash equilibrium?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Is there Nash equilibrium in this game?

Yes, there is. Every game has a Nash equilibrium.


What game did John Nash invent?

John Nash did not invent a game, but he is known for his work in game theory, particularly for his development of the Nash equilibrium concept, which has had a significant impact in various fields, including economics and political science.


What is correlated equilibrium of the prisoner's dilema game?

In PD the only correlated equilibrium is a Nash equilibrium. No strictly dominated strategy can be played in a correlated equilibrium


What is a Nash equilibrium?

bull work that first year baby grad students do


How do you find the Nash equilibrium?

Step by step guide on how to find a Nash Equilibrium or EquilibriaStep 1. Look at the payoff matrix and figure out whose payoff's are whose:Step 2. Figure out Player A's best response to all of player B's actionsStep 3. Figure out Player B's best response to all of player A's actionsStep 4. A Nash equilibrium exists where Player B's best response is the same as Player


What is Crustal Uplift?

it is concept of earths crust is gravitational balance or equilibrium.


The concept that evolution occurs over long periods of stability that are interrupted by geologically brief periods of change is known as?

punctuated equilibrium


What is A non-cooperative Nash equilibrium?

Means there is no binding agreement. So free to play the strategy that is the optimal response to the other players actions.


Is a set of strategies in which each player's strategy is the best option for that player given the stated of the player's opponent?

A Nash equilibrium, i got this right =)


What has the author C E Russett written?

C. E. Russett has written: 'Concept of equilibrium in American social thought'


How is john Nash formulas used today?

John Nash's game theory models are used in various fields such as economics, political science, and biology to understand and analyze strategic interactions between different actors. By applying Nash equilibrium and related concepts, researchers can predict outcomes and make decisions in complex situations where multiple parties are involved. Overall, Nash's formulas continue to be relevant in studying competitive behavior and cooperation among individuals or organizations.


What does ogden Nash mean by a 'germ'?

In Ogden Nash's poem, a "germ" is a small idea or seed that grows and spreads, influencing people's thoughts and actions. It represents the power of an initial thought or concept to evolve and shape the world around us.