Fact checked by Vikki Velasquez Reviewed by Michael J Boyle Game theory is the study of how and why players make decisions ...

Here Prof. Dixit explains game theory and its impact on situations we encounter every day. "If Nash got a dollar for every time someone wrote or said 'Nash equilibrium,'" Dixit has said ...

Nash Equilibrium is a fundamental concept in game theory that describes a situation where no player can benefit by changing their strategy while the other players keep theirs unchanged.