Outcome (game theory) — In game theory, an outcome is a set of moves or strategies taken by the players, or their payoffs resulting from the actions or strategies taken by all players. The two are complementary in that, given knowledge of the set of strategies of all… … Wikipedia
Nash equilibrium — A solution concept in game theory Relationships Subset of Rationalizability, Epsilon equilibrium, Correlated equilibrium Superset of Evolutionarily stable strategy … Wikipedia
General equilibrium — theory is a branch of theoretical microeconomics. It seeks to explain the behavior of supply, demand and prices in a whole economy with several or many markets. It is often assumed that agents are price takers and in that setting two common… … Wikipedia
Markov perfect equilibrium — A solution concept in game theory Relationships Subset of Subgame perfect equilibrium Significance Proposed by … Wikipedia
Thermodynamic equilibrium — In thermodynamics, a thermodynamic system is said to be in thermodynamic equilibrium when it is in thermal equilibrium, mechanical equilibrium, and chemical equilibrium. The local state of a system at thermodynamic equilibrium is determined by… … Wikipedia
Sunspot equilibrium — In economics, a sunspot equilibrium is an economic equilibrium where the market outcome or allocation of resources varies in a way unrelated to economic fundamentals. In other words, the outcome depends on an extrinsic random variable, i.e. on… … Wikipedia
Nash Equilibrium — A concept of game theory where the optimal outcome of a game is one where no player has an incentive to deviate from his or her chosen strategy after considering an opponent s choice. Overall, an individual can receive no incremental benefit from … Investment dictionary
Nash equilibrium — In game theory, an outcome or set of strategies, one for each player, is in Nash equilibrium if it yields an outcome such that no player can improve her position by unilaterally withdrawing from it. A game may permit several Nash equilibria. In… … Philosophy dictionary
Hydrostatic equilibrium — occurs when compression due to gravity is balanced by a pressure gradient which creates a pressure gradient force in the opposite direction. The balance of these two forces is known as the hydrostatic balance.Mathematical considerationFor a… … Wikipedia
Mechanism design — The Stanley Reiter diagram above illustrates a game of mechanism design. The upper left space Θ depicts the type space and the upper right space X the space of outcomes. The social choice function f(θ) maps a type profile to an outcome. In games… … Wikipedia
Coordination game — In game theory, coordination games are a class of games with multiple pure strategy Nash equilibria in which players choose the same or corresponding strategies. Coordination games are a formalization of the idea of a coordination problem, which… … Wikipedia