Nash equilibrium

In game theory, the Nash equilibrium (named after John Nash who proposed it) is a kind of optimal collective strategy in a game involving two or more players, where no player has anything to gain by changing only their own strategy. If each player has chosen a strategy and no player can benefit by changing his strategy while the other players keep theirs unchanged, then the current set of strategy choices and the corresponding payoffs constitute a Nash equilibrium.

Related Topics:
Game theory - John Nash

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The concept of the Nash equilibrium (NE) was originated by Nash in his dissertation, Non-cooperative games (1950). Nash showed that the various solutions for games that had been given earlier all yield Nash equilibria.

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