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The '''Nash equilibrium''' is the set of decisions my multiple rivals when they maximize their individual self interests in a like-minded manner.
The '''Nash equilibrium''' is the set of decisions by multiple rivals when they maximize their individual self interests in a like-minded manner.
The "equilibrium" occurs when no participant would gain anything by only changing his own decision when the other identically situated participants made the same decision. A problem can have more than one Nash equilibrium.
The "equilibrium" occurs when no participant would gain anything by only changing his own decision when the other identically situated participants made the same decision. A problem can have more than one Nash equilibrium.