Nash Equilibrium

In game theory, a Nash equilibrium is a state of a strategic game in which no player can improve their own outcome by unilaterally changing their own strategy while every other player keeps their strategy fixed. It is the most commonly used solution concept for non-cooperative games, in which each participant chooses independently rather than through binding agreements with the others, and economists and game theorists use it to analyze how several decision makers behave when the outcome for each one depends on everyone's choices together, with cited applications including arms races, bank runs and currency crises, and traffic flow. The economist Antoine Augustin Cournot had applied a related idea to competition as early as 1838, but the mathematician John Nash formalized the modern concept and proved that every finite game with mixed strategies has at least one such equilibrium, extending the idea well beyond the earlier zero-sum case and establishing it as a foundational tool of economic analysis. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/