Companies may use game theory to determine the Nash Equilibrium and see the benefit in their budgeting or pricing strategies. 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 explains stable strategies in population dynamics, where certain traits persist because deviations provide no advantage. Nash extended game theory beyond the deterministic two ...