In the short span of ten years, John Forbes Nash, Jr. published an astounding fourteen papers relating to such diverse mathematical subjects as game theory, differential equations, parabolic equations, and fluid dynamics. Although Nash is best known for his works in game theory, for which he received the Nobel Prize in economics in 1994, his other mathematical works do deserve investigation. Many argue however, that Nash's theories relating to non-cooperative games are much less significant than those applicable to other mathematical subjects.

In 1950, Nash published Equilibrium points in n-person games. Previous works (by von Newmann and Morganstern) state in non-cooperative games, all results achieve a zero sum. In other words, the theory of von Newmann and Morganstern states that in every non-cooperative game there is a winner and a loser. Nash's theory adds to the previous theory of von Newmann and Morganstern by stating that there does not always need to be a winner and a loser. In fact, it states that in a game each side will attempt to win to the best of his ability. The other player will know this and will attempt to counter the strategy of the other player. Eventually, an equilibrium point (also known as a Nash Equilibrium) will occur in the game, where each player neither wins nor loses.

For example, pretend that there are two car dealers in a small town. Together, they have a monopoly on the car market in this town. When pricing cars, they can choose a high, medium, or low price. A high price will maximize their profits, whereas a low price is the best value for the consumer. Dealer "A" can price his cars high, but he knows that if he does that, Dealer "B" will price his cars at the medium level, which in turn will force him to price his cars at a low price level. Since price fixing with the other dealer is against the rules (i.e. there are laws against it), each dealer prices his cars at the low level, in order to avoid a price war. Thus an...

...John Forbes Nash, Jr. (born June 13, 1928) is an American mathematician whose works in game theory, differential geometry, and partial differential equations have provided insight into the forces that govern chance and events inside complex systems in daily life. His theories are used in market economics, computing, evolutionary biology, artificial intelligence, accounting, politics and military theory. Serving as a Senior Research Mathematician at Princeton...

...John Forbes Nash Jr. (born June 13, 1928) is a mathematician who worked in game theory and differential geometry. He shared the 1994 Nobel Prize for economics with two other game theorists, Reinhard Selten and John Harsanyi.
After a promising start to his mathematical career, Nash began to suffer from schizophrenia around his 30th year, an illness from which he has only recovered some 25 years later.
John...

...A beautiful mind is a great way to describe JohnNash because he was a brilliant person who suffered and fought through Schizophrenia. Nash was born on June 13, 1928, in Bluefield, West Virginia. His father was an electrical engineer for the Appalachian Electric Power Company. His mother, name was Virginia Martin and she had been a schoolteacher before she married. Nash had a younger sister, Martha, born November 16, 1930....

...JohnNash Biography
JohnNash (June 13, 1928 – present) is a brilliant mathematician, specializing in economics. He was born n Westfield, West Virginia, into a family of three, he, his father – an electrical engineer, and his mother – a school teacher who pushed him to do many great things that led to his superb education and extraordinary mind. As a child, he had a quiet and withdrawn personality, but was very intelligent. He started...

... the Nash equilibrium is a solution concept of a non-cooperative game involving two or more players, in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only their own strategy unilaterally. If each player has chosen a strategy and no player can benefit by changing strategies while the other players keep theirs unchanged, then the current set of strategy choices and the corresponding payoffs...

...Nash Equilibrium and Dominant Strategies
Nash Equilibrium is a term used in game theory to describe an equilibrium where each player's strategy is optimal given the strategies of all other players. A Nash Equilibrium exists when there is no unilateral profitable deviation from any of the players involved. In other words, no player in the game would take a different action as long as every other player remains the same. Nash Equilibria...

...Arjun Pahwa Math Research Paper The Application of the Nash Equilibrium in Game Theory to Microeconomics ! One of the most challenging problems a business owner comes across is the
amount of a certain item he or she should stock and the price at which to sell it. Many factors play into ﬁnding this appropriate price. These include the cost of stocking the item, the projected demand, and what the competition is pricing the same item at. The latter of the three factors is...

...Security Dilemma the Collective Action Problem and the Nash Equilibrium.
Criticism of the United Nations highlight the lack of power it has and its reliance on superpowers for legitimacy. The use by states of the UN is conditional on whether it serves state self-interest and whether the value of participating outweighs the cost (Abbott and Snidal 2005: 27). This brings into question why states would allow the UN to impose International laws and Norms that erode state...

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