The death of John and Alicia Nash on 23 May brought attention to game theory and the Nash Equilibrium, which offer insights into resolving the problems of today’s world. As The Economist succinctly says: “In the real world of less-than-perfect competition, a “Nash equilibrium” may well be stable, but not optimal.” Game theory shows that …
Continue reading What happens when you destabilise a suboptimal system? It implodes.
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