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GAME THEORY / RESEARCHER PROFILE
John Nash
Nash equilibrium • Non-cooperative games
About this scholar
Nash formalised equilibrium in non-cooperative games: no player can improve their payoff by changing strategy alone while other strategies stay fixed. He shared the 1994 Nobel Memorial Prize in Economic Sciences.
Example in practice
Competing businesses may settle into a price or product strategy where no single firm benefits from moving alone.
Sources and further reading
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