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.
Figure 1 shows the optimal policy in a competitive market and the Nash-Cournot equilibrium in a model with extortion.
Figure 2 compares the Nash-Cournot equilibrium when e = 0 and e [greater than] 0.
Figure 3 shows the Nash-Cournot equilibrium when [sigma] takes the following three values: 1/4, 1/2 and 1.