Nash equilibrium

solution concept of a non-cooperative game involving two or more players in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only their own strategy

In game theory, the Nash equilibrium is a proposed solution of a non-cooperative game having two or more players in which each player knows the equilibrium strategies of the other players, and no player can gain anything more by changing only their own strategy.[1]

If each player has chosen, and no player can win anything more by choosing a different strategy for themselves, then they have a Nash equilibrium.

ReferencesEdit

  1. Osborne, Martin J.; Rubinstein, Ariel (12 Jul 1994). A Course in Game Theory. Cambridge, MA: MIT. p. 14. ISBN 9780262150415.