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Politics : Foreign Affairs Discussion Group

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To: jttmab who wrote (144924)9/4/2004 10:20:25 AM
From: ManyMoose  Read Replies (1) of 281500
 
Precisely my point. There was a Nobel Prize awarded on this very concept. It's a good thing you and I are not in charge of fixing things up.

http://william-king.www.drexel.edu/top/eco/game/nash.html
DEFINITION: Nash Equilibrium
If there is a set of strategies with the property that no player can benefit by changing her strategy while the other players keep their strategies unchanged, then that set of strategies and the corresponding payoffs constitute the Nash Equilibrium.

It would be nice to say that that answers all our questions. But, of course, it does not. Here is just the first of the questions it does not answer: could there be more than one Nash-Equilibrium in the same game? And what if there were more than one?
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