A Nash equilibrium
i.is named after the Nobel prize winning economist,John Nash.
ii.occurs when each player chooses the best strategy given the strategy of the other player.
iii.must give the best possible outcome for both players.

Question

Quizplus · Accepted Answer

A Nash equilibrium is indeed named after John Nash, a Nobel Prize-winning economist, and it occurs when each player in a game chooses the best strategy given the strategies chosen by the other players. However, it does not necessarily result in the best possible outcome for both players; it simply means no player has an incentive to deviate from their chosen strategy given the other players' strategies.

A Nash Equilibrium I.is Named After the Nobel Prize Winning Economist,John Nash