Nash equilibrium
Sign in to savesolution 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
Key facts
- Subset of
- Rationalizability , Epsilon-equilibrium , Correlated equilibrium
- Superset of
- Evolutionarily stable strategy , Subgame perfect equilibrium , Perfect Bayesian equilibrium , Trembling hand perfect equilibrium , Stable Nash equilibrium , Strong Nash equilibrium
- Proposed by
- John Forbes Nash Jr.
- Used for
- All non-cooperative games
via Wikipedia infobox
Article
In game theory, a Nash equilibrium is a situation where no player could gain more by changing their own strategy (holding all other players' strategies fixed) in a game. A Nash equilibrium is the most commonly used solution concept for non-cooperative games.
If each player has chosen a strategy — an action plan based on what has happened so far in the game — and no one can increase one's own expected payoff by changing one's strategy while the other players keep theirs unchanged, then the current set of strategy choices constitutes a Nash equilibrium.