The Nash Equilibrium Revisited

3 years ago
Microeconomics

Dominant Strategies: I’m doing the best I can no matter what you do.

                                  You’re doing the best you can no matter what I do.

 

Nash Equilibrium: I’m doing the best I can given what you are doing.

                              You’re doing the best you can given what I am doing.

Random: If a tax is introduced, then supply and demand prices are no longer equal:

                                                  PS = PD – t

0
Bijay Satyal
Bijay Satyal
Dec 1, 2021
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