Nash Equilibrium

Definition: when neither competitor can benefit from changing your current strategy

The biggest take-away is that the 1/4 quarter-mile agreement doesn’t work; it doesn’t work because either competitor could decide to change their side of the bargain and profit.

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About Cooper Katz McKim

I'm a jazz pianist, vegetarian, runner who goes to Tufts University. I'm partial to discussion of the environment and of economics.
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