can someone explain Nash Equilibrium to me???

[Corporate Thug]

???????????

 

[BullsOnParade]

here's a good site
http://william-king.www.drexel.edu/top/eco/game/nash.html

 

[replicator]

Pretty simple concept if i remember correctly..

Sounds complicated when you explain it, but looking at an example will make it clear.

wikipedia

The 'prisoners dilemma' is a good one to look at.

 

[aphex]

ahhh, i miss managerial economics....

 

[DaWhim]

there is an explanation a beautiful mind book

 

[Corporate Thug]

another question:

strongly dominating: payoff always beats any other alternative
weakly dominating: payoff always beats OR TIES any other alternative

is this right?

 

[BullsOnParade]

Thats dominating columns rows, and redution of games. Nash is more. Fix player A's strategy, is player B stuck
or can he move unilaterally to a better payoff scheme. a nash equilibrium point is one where if A's play is fixed
player B cannot better his payoff unilaterally.