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Nash equilibrium

   Also found in: Acronyms, Wikipedia, Hutchinson 0.01 sec.
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Noun1.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
game theory, theory of games - (economics) a theory of competition stated in terms of gains and losses among opposing players
equilibrium - a stable situation in which forces cancel one another


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One interesting feature of the model is that it can reveal what both teams should do, which is called the Nash equilibrium, after the Nobel laureate John Nash.
In the Model Specification section, a simple 2-club Nash equilibrium model is specified with the demand for talent as the only decision variable.
In this paper, we first formulate the problem as a supermodular game [5] which is proved to have at least a Nash Equilibrium (NE), and then give the solution by maximizing the utility function for each CU.
 
 
 
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