A Nash equilibrium:
A)is reached when all players choose the best strategy they can,given the choices of all other players.
B)is a point in a game when no player has an incentive to change his or her strategy,given what the other players are doing.
C)is a concept named after the famous game theorist John Nash.
D)All of these statements are true.

Question

Quizplus · Accepted Answer

All three statements are true and accurately describe a Nash equilibrium. A Nash equilibrium represents a stable outcome in a game where each player is making the best decision possible given the strategies of the other players. The concept is named after John Nash, a famous game theorist who developed the notion in his doctoral thesis.

A Nash Equilibrium