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Equilibrium | A Wisdom Archive on Equilibrium |  | Equilibrium A selection of articles related to Equilibrium |  |
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equilibrium, Equilibrium, Balance, Stability
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ARTICLES RELATED TO Equilibrium | |
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 |  |  | Equilibrium: Encyclopedia II - General equilibrium - Properties and characterization of general equilibrium(see also Two fundamental theorems of welfare economics)
Basic questions in general equilibrium analysis are concerned with the conditions under which an equilibrium will be efficient, which efficient equilibria can be achieved, when an equilibrium is guaranteed to exist and when the equilibrium will be unique and stable.
General equilibrium - First Fundemental Theorem of Welfare Economics.
The First Theorem states that every equilibrium is Pareto efficient. The technical condition for the result to ...
See also:General equilibrium, General equilibrium - History of general equilibrium modelling, General equilibrium - Modern concept of general equilibrium in economics, General equilibrium - Properties and characterization of general equilibrium, General equilibrium - First Fundemental Theorem of Welfare Economics, General equilibrium - Second Fundemental Theorem of Welfare Economics, General equilibrium - Existence, General equilibrium - Uniqueness, General equilibrium - Stability, General equilibrium - Unresolved problems in general equilibrium Read more here: » General equilibrium: Encyclopedia II - General equilibrium - Properties and characterization of general equilibrium |
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 |  |  | Equilibrium: Encyclopedia II - Nash equilibrium - StabilityThe concept of stability, useful in the analysis of many kinds of equilibrium can also be applied to Nash equilibria.
A Nash equilibrium for a mixed strategy game is stable if a small change (specifically a infinitesimal change) in probabilities for one player leads to a situation where two conditions hold:
the player who did not change has no better strategy in the new circumstance
the player who did change is now ...
See also:Nash equilibrium, Nash equilibrium - Formal definition and existence of Nash equilibria, Nash equilibrium - Proof sketch, Nash equilibrium - Examples, Nash equilibrium - Competition game, Nash equilibrium - Coordination game, Nash equilibrium - Prisoner's dilemma, Nash equilibrium - NE in Payoff Matrix, Nash equilibrium - Stability, Nash equilibrium - Occurrence, Nash equilibrium - Where the conditions are not met, Nash equilibrium - Where the conditions are met, Nash equilibrium - Notes Read more here: » Nash equilibrium: Encyclopedia II - Nash equilibrium - Stability |
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 |  |  | Equilibrium: Encyclopedia II - Nash equilibrium - StabilityThe concept of stability, useful in the analysis of many kinds of equilibrium can also be applied to Nash equilibria.
A Nash equilibrium for a mixed strategy game is stable if a small change (specifically a infinitesimal change) in probabilities for one player leads to a situation where two conditions hold:
the player who did not change has no better strategy in the new circumstance
the player who did change is now ...
See also:Nash equilibrium, Nash equilibrium - Formal definition and existence of Nash equilibria, Nash equilibrium - Proof sketch, Nash equilibrium - Examples, Nash equilibrium - Competition game, Nash equilibrium - Coordination game, Nash equilibrium - Prisoner's dilemma, Nash equilibrium - Nash Equilibria in a Payoff Matrix, Nash equilibrium - Stability, Nash equilibrium - Occurrence, Nash equilibrium - Where the conditions are not met, Nash equilibrium - Where the conditions are met, Nash equilibrium - Notes Read more here: » Nash equilibrium: Encyclopedia II - Nash equilibrium - Stability |
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 |  |  | Equilibrium: Encyclopedia II - Nash equilibrium - StabilityThe concept of stability, useful in the analysis of many kinds of equilibrium, can also be applied to Nash equilibria.
A Nash equilibrium for a mixed strategy game is stable if a small change (specifically, an infinitesimal change) in probabilities for one player leads to a situation where two conditions hold:
the player who did not change has no better strategy in the new circumstance
the player who did change is now ...
See also:Nash equilibrium, Nash equilibrium - Formal definition and existence of Nash equilibria, Nash equilibrium - Proof sketch, Nash equilibrium - Examples, Nash equilibrium - Competition game, Nash equilibrium - Coordination game, Nash equilibrium - Prisoner's dilemma, Nash equilibrium - Nash Equilibria in a Payoff Matrix, Nash equilibrium - Stability, Nash equilibrium - Occurrence, Nash equilibrium - Where the conditions are not met, Nash equilibrium - Where the conditions are met, Nash equilibrium - Notes Read more here: » Nash equilibrium: Encyclopedia II - Nash equilibrium - Stability |
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 |  |  | Equilibrium: Encyclopedia II - Nash equilibrium - Examples
Nash equilibrium - Competition game.
Consider the following two-player game: both players simultaneously choose a whole number from 0 to 10. Both players then win the minimum of the two numbers in dollars. In addition, if one player chooses a larger number than the other, then s/he has to pay $2 to the other. This game has a unique Nash equilibrium: both players choosing 0. Any other choice of strategies can be improved if one of the players lowers their number to one less than the other player's number. If the g ...
See also:Nash equilibrium, Nash equilibrium - Formal definition and existence of Nash equilibria, Nash equilibrium - Proof sketch, Nash equilibrium - Examples, Nash equilibrium - Competition game, Nash equilibrium - Coordination game, Nash equilibrium - Prisoner's dilemma, Nash equilibrium - NE in Payoff Matrix, Nash equilibrium - Stability, Nash equilibrium - Occurrence, Nash equilibrium - Where the conditions are not met, Nash equilibrium - Where the conditions are met, Nash equilibrium - Notes Read more here: » Nash equilibrium: Encyclopedia II - Nash equilibrium - Examples |
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 |  |  | Equilibrium: Encyclopedia II - Nash equilibrium - Examples
Nash equilibrium - Competition game.
Consider the following two-player game: both players simultaneously choose a whole number from 0 to 10. Both players then win the minimum of the two numbers in dollars. In addition, if one player chooses a larger number than the other, then s/he has to pay $2 to the other. This game has a unique Nash equilibrium: both players choosing 0. Any other choice of strategies can be improved if one of the players lowers his number to one less than the other player's number. If the gam ...
See also:Nash equilibrium, Nash equilibrium - Formal definition and existence of Nash equilibria, Nash equilibrium - Proof sketch, Nash equilibrium - Examples, Nash equilibrium - Competition game, Nash equilibrium - Coordination game, Nash equilibrium - Prisoner's dilemma, Nash equilibrium - Nash Equilibria in a Payoff Matrix, Nash equilibrium - Stability, Nash equilibrium - Occurrence, Nash equilibrium - Where the conditions are not met, Nash equilibrium - Where the conditions are met, Nash equilibrium - Notes Read more here: » Nash equilibrium: Encyclopedia II - Nash equilibrium - Examples |
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