Nash Equilibrium

Ana Espinola-Arredondo and Felix Munoz-Garcia

Chapter Chapter 3 in Game Theory, 2023, pp 47-75 from Springer

Abstract: Abstract In this chapter, we present a different solution concept which may have “more bite” than IDSDS. Fewer strategy profiles can, then, emerge as equilibria of the game. This solution concept, known as the Nash Equilibrium after Nash (1950), builds upon the notion that every player finds the strategy that maximizes her payoff against each of her rivals’ strategies, which we refer as her “best response.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-37574-3_3

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DOI: 10.1007/978-3-031-37574-3_3

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