Nash Equilibrium

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Definition: Nash Equilibrium

Nash equilibrium is a concept of game theory given by JOHN NASH, from Princeton University.

Most of us would know this real life character played by RUSSEL CROWE in the movie ‘A BEAUTIFUL MIND’.

As per the Nash , the state in which both the players know each others constraints and reach a situation under which there will be no benefit to either of the players by change of strategy, is termed as Nash Equilibrium.

 

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