Game Theory: the Nash Equilibrium

I recently watched the film “A Beautiful Mind” which is a cinematic portrayal of the life of the mathematician John Nash (10/10 recommend). John Nash is known for his contribution to economics, game theory, and partial differential equations. I was first introduced to Nash and his equilibrium when I took Game Theory with Professor Baez (check out his blog, he’s amazing).

The film sparked newfound interest in me for Nash and his mathematical phenomena. I stumbled upon this article that delectably explained his equilibrium while deciphering multifarious roadblocks in its implications.

Nash’s equilibrium concept, which earned him a Nobel Prize in economics in 1994, offers a unified framework for understanding strategic behavior not only in economics but also in psychology, evolutionary biology and a host of other fields.

In a dream it’s typical not to be rational.— John Forbes Nash, Jr.

 

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