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Nash equilibrium

If you haven't watched the movie "A Beautiful Mind", you should. It is about John Nash (played by Russell Crowe) who won the Nobel Prize in economics for his foundational contributions to game theory. This is what this tutorial is about.Nash put some structure around how players in a "game" can optimize their outcomes (if the movie is to be fully believed, this insight struck him when he realize that if all his friends hit on the most pretty girl, he should hit on the second-most pretty o...

Topics: Finance, Economics
Cost: Free

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Description

If you haven't watched the movie "A Beautiful Mind", you should. It is about John Nash (played by Russell Crowe) who won the Nobel Prize in economics for his foundational contributions to game theory. This is what this tutorial is about.Nash put some structure around how players in a "game" can optimize their outcomes (if the movie is to be fully believed, this insight struck him when he realize that if all his friends hit on the most pretty girl, he should hit on the second-most pretty one). In this tutorial, we use the classic "prisoner's dilemma" to highlight this concept.

Details

  • Days of the Week: Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, Sunday
  • Level of Difficulty: Beginner
  • Size: One-on-One
  • Instructor: Sal Khan
  • Cost: Free
  • Institution: Khan Academy
  • Topics: Finance, Economics

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About Khan Academy: Khan Academy is an organization on a mission. Khan Academy is a not-for-profit with the goal of changing education for the better by providing a free world-class education for anyone anywhere.

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