Nash equilibrium

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Words related to Nash equilibrium

(game theory) a stable state of a system that involves several interacting participants in which no participant can gain by a change of strategy as long as all the other participants remain unchanged

References in periodicals archive ?
As was shown by Bernheim (1989), the Nash-Cournot equilibrium does not maximize welfare.
Note that the noncooperative layout has been chosen for ease of computation because the Nash-Cournot equilibrium solution produces well-defined and stable results in general.
We will show that a Nash-Cournot equilibrium in innovation research strategies exists in this space: if n - 1 firms employ quasi-constant strategies, then it is optimal for the nth firm to do so as well.
It remains to show that there exists a Nash-Cournot equilibrium in closed loop strategies, and that the optimal strategies are step function strategies; it follows that [differential][V.
The Nash-Cournot equilibrium is found by solving both reaction functions in y and p, deriving
Figure 1 shows the optimal policy in a competitive market and the Nash-Cournot equilibrium in a model with extortion.