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What is Nash Equilibrium

Chapter 40
Handbook of Research on Green ICT: Technology, Business and Social Perspectives
A set of strategies is said to be in Nash Equilibrium if every player is playing his best strategy against the other players best strategies.
Published in Chapter:
Green ICT and Architectural Frameworks
Amit Goel (RMIT University, Australia), Amit Tiwary (Utility Industry, Australia), and Heinz Schmidt (RMIT University, Australia)
Copyright: © 2011 |Pages: 13
DOI: 10.4018/978-1-61692-834-6.ch040
Abstract
Green ICT Practices fall in two different extremes of either only recommendations to reduce the resource usage such as electricity, or high level strategic management techniques such as Green Balanced Scorecard. The one extreme is very micro level operational approach and the other extreme is just paper strategies without a roadmap for total sustainability. This chapter proposes the enterprise architecture framework and mathematical model providing dynamic model for total sustainability. A brief description of currently popular Green ICT Metrics in practice is presented, together with a discussion of architectural frameworks providing three different architecture layers and a roadmap to achieve desirable “total sustainability indicator (TSI™) - a measurement framework based on mathematical models and game theory.
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Chapter 10
An Overview of Tourism Supply Chains Management and Optimization Models (TSCM – OM)
The result of a non-cooperative game involving two or more players, in which it is assumed that each player knows the equilibrium strategies of the other players, and no player has anything to gain by changing only their own strategy. If each player has selected a strategy and no player can benefit by changing strategies while the other players keep theirs unchanged, then the current set of strategy selections and the corresponding payoffs constitutes a Nash equilibrium. The reality of the Nash equilibrium of a game can be tested using experimental economics method. It can be applied in two loops ( Open Loop and Close Loop ).
Published in Chapter: An Overview of Tourism Supply Chains Management and Optimization Models (TSCM – OM); From: Handbook of Research on Holistic Optimization Techniques in the Hospitality, Tourism, and Travel Industry
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Chapter 16
Applied Game Theory in Business Analytics
It is a solution concept of a game involving two or more players, in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only his own strategy unilaterally.
Published in Chapter: Applied Game Theory in Business Analytics; From: Encyclopedia of Business Analytics and Optimization
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Chapter 12
Dynamic Spectrum Management Algorithms for Multiuser Communication Systems
A non-cooperative game theoretic solution where no user can gain by changing their current power allocation strategy.
Published in Chapter: Dynamic Spectrum Management Algorithms for Multiuser Communication Systems; From: Handbook of Research on Software-Defined and Cognitive Radio Technologies for Dynamic Spectrum Management
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Chapter 96
Game Theory and Supply Chain Networks
A state in which each player in the game can’t obtain a higher payoff by unilaterally deviating from his own strategy.
Published in Chapter: Game Theory and Supply Chain Networks; From: Encyclopedia of Business Analytics and Optimization
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Chapter 150
Learning Nash Equilibria in Non-Cooperative Games
A solution concept of a game where no player can benefit by changing his strategy unilaterally, i.e. while the other players keep theirs unchanged; this set of strategies and the corresponding payoffs constitute a Nash Equilibrium of the game.
Published in Chapter: Learning Nash Equilibria in Non-Cooperative Games; From: Encyclopedia of Artificial Intelligence
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Chapter 125
Wireless Technologies: Shifting into the Next Gear?
A Nash equilibrium of a strategic game is a profile of strategies , where (is the strategy set of player), such that for each player, and for every , where withbeing the strategies set of any other player but, and where stands for the utility (or payoff, or profits) each player derives as a function of his or her own chosen strategy and the strategy chosen by any other player. Another way to state the Nash equilibrium condition is that solves for each. In other words, in a Nash equilibrium, no player has an incentive to deviate from the strategy chosen, since no player can choose a better strategy given the choices of the other players.
Published in Chapter: Wireless Technologies: Shifting into the Next Gear?; From: Encyclopedia of E-Business Development and Management in the Global Economy
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Chapter 16
Cooperative Optimization of Tourism Networks: An Application of a Game Theory Model
A fundamental concept in the game theory and it is used to predict the outcomes of a strategic interaction in the social sciences.
Published in Chapter: Cooperative Optimization of Tourism Networks: An Application of a Game Theory Model; From: Handbook of Research on Holistic Optimization Techniques in the Hospitality, Tourism, and Travel Industry
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Chapter 46
Games of Strategy
A Nash Equilibrium, also called strategic equilibrium, is a list of strategies, one for each player, which has the property that no player can unilaterally change his strategy and get a better payoff.
Published in Chapter: Games of Strategy; From: Encyclopedia of Decision Making and Decision Support Technologies
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Chapter 1
Introduction to the Economics of Animal and Plant Biosecurity
A stable state of interactions between participants where the outcome for each participant depends on their choice as well as others' choices and no individual will be better off switching their choice if no one else switches.
Published in Chapter: Introduction to the Economics of Animal and Plant Biosecurity; From: Tactical Sciences for Biosecurity in Animal and Plant Systems
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Chapter 18
Advanced Cognitive Radio-Enabled Spectrum Management
A solution concept of a non-cooperative game involving two or more players, in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only their own strategy.
Published in Chapter: Advanced Cognitive Radio-Enabled Spectrum Management; From: Handbook of Research on Software-Defined and Cognitive Radio Technologies for Dynamic Spectrum Management
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Chapter 281
Application of Soft Set in Game Theory
It is a concept to find out the solution of a non cooperative game involving two or more players in game theory.
Published in Chapter: Application of Soft Set in Game Theory; From: Encyclopedia of Information Science and Technology, Fourth Edition
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