The Nash Equilibrium (A Beautiful Mind, John Nash): Definition, Explanation & Examples in One Minute
First of all, here's the link I've mentioned at the end of this video:
• The Prisoner's Dilemma Explained in O...
Many people were "kinda, sorta" exposed to the Nash equilibrium as a result of watching the movie or reading the book "A Beautiful Mind" about John Forbes Nash Jr. but the Nash equilibrium example provided there is better suited for an improved artistic experience than for understanding the Nash equilibrium properly.
Through a far more simplified approach, I've tried to explain that understanding the Nash equilibrium doesn't have to be unbelievably complicated.
The most popular contribution to game theory of John Nash, the Nash Equilibrium, can actually be understood through a simple explanation involving... lemonade :)
What does lemonade have to do with John Nash or the Nash equilibrium?
Let's find out!
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