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The Nash Equilibrium

In: Scissors and Rock

Author

Listed:
  • Manfred J. Holler

    (University of Hamburg)

  • Barbara Klose-Ullmann

    (Center of Conflict Resolution)

Abstract

Here a definition of the Nash equilibriumNash equilibrium is presented, regarded as the most prominent solution concept for non-cooperative games. Information requirements such as common knowledge of rationality (CKR)Common Knowledge of Rationality (CKR) and consistent-aligned beliefs (CAB)Consistent-Aligned Beliefs (CAB) are discussed. A historical note on Nash and his equilibrium concept accompanies the definition, including a reference to the movie “Beautiful Mind.” For illustration, the concept is applied to the QWERTY-DSK game of standardization—and to the Kama Sutra.

Suggested Citation

  • Manfred J. Holler & Barbara Klose-Ullmann, 2020. "The Nash Equilibrium," Springer Books, in: Scissors and Rock, chapter 0, pages 59-74, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-44823-3_4
    DOI: 10.1007/978-3-030-44823-3_4
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