Begin your study of game theory by considering the difference between a decision and a game. Then look at two key concepts, dominant strategy and the Nash equilibrium—the latter named
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Begin your study of game theory by considering the difference between a decision and a game. Then look at two key concepts, dominant strategy and the Nash equilibrium—the latter named for mathematician John F. Nash, profiled in the movie A Beautiful Mind. Use these ideas to interpret the notorious prisoner’s dilemma, where two rational individuals with strong incentives to cooperate choose not to.
