Nash equilibrium

A Nash equilibriumMathworldPlanetmath of a game is a set of (possibly mixed) strategies σ=(σ1,,σn) such that, if each player i believes that that every other player j will play σj, then i should play σi. That is, when ui is the utility functionPlanetmathPlanetmath for the i-th player:

in and σiΣi

Translated, this says that if any player plays any strategy other than the one in the Nash equilibrium then that player would do worse than playing the Nash equilibrium.

Title Nash equilibrium
Canonical name NashEquilibrium
Date of creation 2013-03-22 12:51:35
Last modified on 2013-03-22 12:51:35
Owner Henry (455)
Last modified by Henry (455)
Numerical id 8
Author Henry (455)
Entry type Definition
Classification msc 91A99