Nash equilibrium

E833553

A Nash equilibrium is a game-theoretic solution concept where no player can improve their payoff by unilaterally changing their strategy, given the strategies of all other players.

All labels observed (2)

Label Occurrences
Nash equilibrium canonical 8
trembling hand perfect equilibrium 2

How this entity was disambiguated

Statements (66)

Predicate Object
instanceOf equilibrium concept in game theory
game-theoretic solution concept
appliedExample Battle of the Sexes
Bertrand competition
Cournot duopoly
linked to: Cournot

Matching Pennies
Prisoner’s Dilemma
appliesTo extensive-form games
finite games
infinite games
normal-form games
strategic-form games
assumes players are rational
players correctly anticipate others’ strategies
players know the game structure
centralTo non-cooperative game theory
characterizedBy mutual best responses
strategic stability against unilateral deviations
criticizedFor lack of predictive power in some games
multiple equilibria
reliance on strong rationality assumptions
definedAs strategy profile where no player can gain by unilaterally deviating
definedBy best responses of all players to each other
doesNotNecessarilyImply Pareto efficiency
existenceProvedBy John Forbes Nash Jr.
linked to: John Nash
field economics
evolutionary biology
game theory
mathematics
guaranteedExistenceIn finite games with mixed strategies
hasRefinement proper equilibrium
sequential equilibrium
subgame perfect Nash equilibrium
trembling-hand perfect equilibrium
hasVariant correlated equilibrium
evolutionarily stable strategy
mixed-strategy Nash equilibrium
pure-strategy Nash equilibrium
subgame perfect Nash equilibrium
trembling-hand perfect equilibrium
introducedBy John Forbes Nash Jr.
linked to: John Nash
introducedIn 1950
1951
mathematicallyBasedOn Brouwer fixed-point theorem
Kakutani fixed-point theorem
fixed-point theorems
mayBe multiple
nonexistent in pure strategies
unique
namedAfter John Forbes Nash Jr.
linked to: John Nash
publication Non-Cooperative Games
publicationYear 1951
relatedConcept Bayesian Nash equilibrium
linked to: Bayesian games

correlated equilibrium
dominant strategy equilibrium
perfect Bayesian equilibrium
subgame perfect equilibrium
usedIn algorithmic game theory
auction theory
bargaining theory
evolutionary game theory
industrial organization
mechanism design
oligopoly theory
political science
usedToModel strategic interaction among rational agents

How these facts were elicited

Referenced by (10)

Full triples — surface form annotated when it differs from this entity's canonical label.

Hotelling’s law relatedTo Nash equilibrium
Reinhard Selten knownFor trembling hand perfect equilibrium
linked to: Nash equilibrium
Reinhard Selten notableConcept trembling hand perfect equilibrium
linked to: Nash equilibrium
Extensive Games and the Problem of Information relatedTo Nash equilibrium
Classics in Game Theory subject Nash equilibrium
game theory hasConcept Nash equilibrium
The Calculus of Selfishness usesConcept Nash equilibrium