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What is Nash game theory?

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Question added by Sohail Lone , Assistant Manager Audit , Deloitte - United Arab Emirates
Date Posted: 2015/08/27
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by Deleted user

GAME THEORY:

Nash Equilibrium was developed by the Nobel Prize Economist John Nash. It states that two players will make best decision choice basing their own on the other, given that its the best decision and it remains unchanged. It is the solution concept to a non-cooperative game involving two or more players. See prisoner's dilemma. It is normally used by Economists to analyze war and hostile situations in the real world.

Muhammad Nasr
by Muhammad Nasr , Accounts Assistant , Overseas Pakistanis Foundation College

if you know appropriate and right answer help me understand this term thank you !

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