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Ideas from books, articles & podcasts.
Example: Battle of the sexes
A man and a woman are hoping to attend an event together, but they must choose between a prizefight or a ballet.
They cannot communicate where they will go beforehand, and the man in this story would prefer to go to the prizefight while the woman in this scenario would like to go to the ballet.
This game has two unique Nash equilibrium strategies: one in which they both go to the prizefight and one in which they both go to the ballet.
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MORE IDEAS FROM THE SAME ARTICLE
To find it, share each player’s strategy with every other player. If the players do not change their strategies, you have found the Nash equilibrium.
It is a concept in game theory in which every participant in a noncooperative game can optimize their outcome based on the other players’ decisions.
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