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The Nash equlibrium is used to describe situations when several people or companies have benefits that depend on the decisions of rival. The Nash equilibrium predicts the choices those people or companies will make to maximize their individual benefits.

The Nash equlibrium is used to describe situations when several people or companies have benefits that depend on the decisions of rival. The Nash equilibrium predicts the choices those people or companies will make to maximize their individual benefits.

In economics, the Nash equilibrium describes pricing decisions by an oligopoly.  The set of selling prices will be such that no seller can benefit by changing his price while the other sellers keep their prices unchanged.  If the cost structures are the same for each seller in an oligopoly, then the Nash equilibrium is where the price equals the marginal cost, or P=MC.

In [[economics]], the Nash equilibrium describes pricing decisions by an [[oligopoly]].  The set of selling prices will be such that no seller can benefit by changing his price while the other sellers keep their prices unchanged.  If the cost structures are the same for each seller in an oligopoly, then the Nash equilibrium is where the price equals the [[marginal cost]], or P=MC.

==Nash equilibrium and intuition==

==Nash equilibrium and intuition==