Tuesday 1 March 2011

Nash equilibrium

The basic reason for startups failing can be summarised simply by Nash Equilibrium.

The simple insight underlying John Nash's idea is that we cannot predict the result of the choices of multiple decision makers if we analyze those decisions in isolation. Instead, we must ask what each player would do, taking into account the decision-making of the others.

http://en.wikipedia.org/wiki/Nash_equilibrium

~jawed

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