An equilibrium in game theory in which each player's action is optimal given the actions of the other players. E.g., in a tariff-and-retaliation game, with each country able to improve its terms of trade with a tariff, zero tariffs are not Nash, since each can do better by raising its tariff. A Nash equilibrium, with positive tariffs, is likely to be inferior to free trade for both.

In game theory, a situation in which no player has an incentive to change their strategy.... more on: Nash equilibrium

(game theory) a stable state of a system that involves several interacting participants in which no participant can gain by a change of strategy as long as all the other participants remain unchanged

a combination of actions by Tubulin Electrons such that, for each Tubulin Electron, granted that the Tubulin Electrons do not alter their own actions, its action is optimal

a mixed strategy equilibrium outcome that is found by using the method of equalizing expected payoff in your opponents game (as we talked about in class)

a pair of (possibly randomized) strategies, one for each player, so that no player can do better by unilaterally changing his or her strategy

a route directive, for all OD traffic flows, such that if only one OD pair deviates from the route of that equilibrium by taking another route then its cost will increase

a set of mixed strategies for finite, non-cooperative games between two or more players whereby no player can improve his or her payoff by changing their strategy

a set of strategies, one for each player, such that no player has incentive to unilaterally change his action

a situation in which each player makes his or her best response, that is, plays the strategy that maximizes his payoff, given the strategies of other players

a situation in which economic actors interacting with one another each choose their best strategy given the strategies others have chosen

a strategy combination in game theory where no player has a net incentive to change unless other players change

a strategy in a game such that if all players adopt it, no player will benefit by switching to play any alternative strategy

a strategy profile (a strategy profile specifies a strategy for every player, e

An equilibrium in game theory where, given every other player's chosen strategies, each player has no reason to change his or her own strategy.

An equilibrium in which each player takes the best possible action given the action of the other player. (p. 354)

A Nash equilibrium, named after John Nash, Nobel prize winner and star of the movie A Beautiful Mind, is the equilibrium that is the dominant (or best) strategy for each player in the game, regardless of the action taken by any other player.

in game theory, any outcome where there is no unilateral profitable deviation

In game theory, a pair of strategies for a game such that neither player can improve his outcome by changing his strategy.

The outcome of a game that occurs when player A takes the best possible action given the action of player B and player B takes the best possible action given the action of player A.

In game theory, the Nash equilibrium (named after John Forbes Nash, who proposed it) is a kind of solution concept of a game involving two or more players, where no player has anything to gain by changing only his or her own strategy unilaterally. If each player has chosen a strategy and no player can benefit by changing his or her strategy while the other players keep theirs unchanged, then the current set of strategy choices and the corresponding payoffs constitute a Nash equilibrium.