Write a paragraph Essay Example | Topics and Well Written Essays - 250 words

Write a paragraph - Essay ExampleNash equilibrium has its implications both positive and negative. Positively, all(prenominal) player has the advantage of getting the expected payoff given what the opponent plays. Negatively, this strategy is non applicable in all cases. This is because there can be pure strategy normative expectations equilibria which are not Nash equilibria. The prisoners dilemma is an example of such a case scenario (Julian & Wolfgang, 2000).Nash equilibrium may not be Nash equilibrium at all in the event that one would like to have a little bit of extra credit. This is based on the fact that it places one in compromising scenarios in which it leaves the player with no option other than not opting for not being part of the whole process. In a bar, the goods and services on sale are not returnable and so once consumed it is as good as gone. This will constantly leave the owner of the bar at a spillage since there is no positive payoff in the sense that he will a lways dead end a chance of losing in all the possible outcomes (Julian & Wolfgang,