Concept information
Preferred term
nash equilibrium
Definition
- Nash equilibrium (NE) is a solution concept in game theory named after the mathematician and economist John Nash. Informally, a NE can be described as a situation in which each individual player obtains the maximum possible payoff given what the other players are doing. [Source: Encyclopedia of Power; Nash Equilibrium]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/nash_equilibrium
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