Investopedia Video: Nash Equilibrium
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Game theory in general looks at how individuals or groups make choices that will, in turn, affect other parties' choices. Nash Equilibrium refers to a condition in which every participant has optimized its outcome, based on the other players' expected decision.
In summary, game theorists look at decisions, not in isolation, but as part of a system of interactions.
For more on Game Theory and Nash Equilibrium, check out;
Game Theory: Beyond The Basics
http://www.investopedia.com/articles/financial-theory/09/game-theory-beyond-basics.asp
5 Nobel Prize-Winning Economic Theories You Should Know About
http://www.investopedia.com/articles/economics/12/nobel-prize-winning-economic-theories.asp
Explaining The World Through Macroeconomic Analysis
http://www.investopedia.com/articles/02/120402.asp
Видео Investopedia Video: Nash Equilibrium канала Investopedia
http://www.investopedia.com/video/
Game theory in general looks at how individuals or groups make choices that will, in turn, affect other parties' choices. Nash Equilibrium refers to a condition in which every participant has optimized its outcome, based on the other players' expected decision.
In summary, game theorists look at decisions, not in isolation, but as part of a system of interactions.
For more on Game Theory and Nash Equilibrium, check out;
Game Theory: Beyond The Basics
http://www.investopedia.com/articles/financial-theory/09/game-theory-beyond-basics.asp
5 Nobel Prize-Winning Economic Theories You Should Know About
http://www.investopedia.com/articles/economics/12/nobel-prize-winning-economic-theories.asp
Explaining The World Through Macroeconomic Analysis
http://www.investopedia.com/articles/02/120402.asp
Видео Investopedia Video: Nash Equilibrium канала Investopedia
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