Nash equilibrium lies at the heart of game theory, representing a condition in which every participant chooses a strategy that optimises their individual outcome given the strategies of the others.

The concept of Nash equilibrium has long served as a cornerstone in game theory, characterising a state where no player can benefit by changing their strategy unilaterally. Recent advancements have ...

In today’s interconnected global economy, every move counts. Governments, central banks, and multinational firms constantly adjust their strategies, not in isolation, but by anticipating the actions ...

Kohlberg, E. "Refinement of Nash Equilibrium: The Main Ideas." In Game Theory and Applications, edited by T. Ichiishi, A. Neyman, and Y. Tauman. San Diego: Academic ...

Christina Majaski writes and edits finance, credit cards, and travel content. She has 14+ years of experience with print and digital publications. Robert Kelly is managing director of XTS Energy LLC, ...