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Game Theory 101: What Is a Nash Equilibrium?

Game Theory 101: The Complete Textbook on Amazon: http://www.amazon.com/gp/product/B005L7ANWC/ref=as_li_ss_tl?ie=UTF8&camp=1789&creative=390957&creativeASIN=B005L7ANWC&linkCode=as2&tag=gamthe101-20A Nash equilibrium is a set of strategies, one for each player, such that no player has incentive to change his or her strategy given what the other players are doing. But what does that mean? This lecture discusses how Nash equilibria are essentially laws that no one would want to break even in the absence of an effective police force. We look at traffic responding to stoplights as an example.
Length: 05:23

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