Nash equilibrium, in economics and game theory, is a fundamental concept that involves two or more players, where each player is believed to know the equilibrium strategies of the other players, and no player stands to gain by only changing their own strategy. 

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Nash Equilibrium Made Easier
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Definition
Nash equilibrium, in economics and game
theory, is a fundamental concept that
involves two or more players, where each
player is believed to know the equilibrium
strategies of the other players, and no
player stands to gain by only changing
their own strategy.

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Origin
The Nash equilibrium was named after
American mathematician John Forbes
Nash Jr., who won the Nobel prize in
economics in 1994.

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The ISID Ensyslopedia of Science and
Philosophy said the concept is used for the
following types of analysis:
• causes of war
• agenda manipulation in legislature
• candidate's election strategies
• actions of interest groups

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