Commentary: Nash equilibrium and mechanism design

Commentary: Nash equilibrium and mechanism design

Article history: Received 23 December 2008 Available online 18 January 2009 JEL classification: C70

Nash Equilibrium and Mechanism Design

Commentary: Nash equilibrium and dynamics

Article history: Received 4 October 2010 Available online 9 November 2010 JEL classification: C70 C72 C73

Nash equilibrium

In game theory, Nash equilibrium (named after John Forbes Nash, who proposed it) is a solution concept of a game involving two or more players, in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only his own strategy unilaterally. If each player has chosen a strategy and no player can benefit by changing his or...

Nash Equilibrium and Dynamics

Presented at the Opening Panel of the Conference in Honor of John Nash’s 80th Birthday at Princeton University in June 2008. Updated: October 2010. Center for the Study of Rationality, Institute of Mathematics, and Department of Economics, The Hebrew University of Jerusalem. e-mail : [email protected] web page: http://www.ma.huji.ac.il/hart I have seen “nash equilibrium” in print, as if “nash” we...