John Nash's great contribution to economics - the one for which he was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 1994 - is his proof, in his 1950 Princeton ...

Game theory is now part of almost every economist's tool-kit, as this week's Nobel economics prize recognises IT SOUNDS like a sports fan's dream. In Stockholm on October 11th, three men shared a $1m ...

John Nash, who died with his wife, Alicia, in a car crash Saturday at 86, was a mathematician, not an economist. But the phenomenon he described — known as Nash’s Equilibrium — revolutionized the ...

Nash equilibrium lies at the heart of game theory, representing a condition in which every participant chooses a strategy that optimises their individual outcome given the strategies of the others.

The concept of Nash equilibrium has long served as a cornerstone in game theory, characterising a state where no player can benefit by changing their strategy unilaterally. Recent advancements have ...

What does it mean to behave rationally? This question sounds like a problem for philosophers. Yet mathematicians also have something to say about it. In the last few decades, game theory—the ...

If you think that there are decent societies, then you probably also believe it is possible for most people to be decent in a Nash equilibrium. That is because any long-run social outcome is close to ...

This is a preview. Log in through your library . Abstract This paper studies the existence of pure-strategy Nash equilibria for nonatomic games where players take actions in infinite-dimensional ...

The duo described ‘games’ in its simplest form – when one man’s gain is another man’s loss. Nash, however, questioned the proposition and asked what would be the best response in case one player had ...