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Nash equilibrium

The Supply and Demand Model is Wrong

January 3, 2022

How useful is the supply and demand model? Photo by Artem Beliaikin from Pexels

We’ve all heard economists and analysts utter the expression, “It’s all simple supply and demand!” when trying to explain some market phenomenon. Maybe … [Read more...] about The Supply and Demand Model is Wrong

Tags - economics models, Nash equilibrium, perfect competition, supply and demand

Nash Equilibrium: Seeing the Forest Through the Trees

October 4, 2021

The Nash equilibrium is the most common way to define the solution of a non-cooperative game involving two or more players.

Around the 1940s and 1950s, a defining moment in the development of economic thought was underway, led by academics such as Paul Samuelson and John … [Read more...] about Nash Equilibrium: Seeing the Forest Through the Trees

Tags - economics, game theory, Nash equilibrium, price

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