Nash equilibrium provided new look at certain economic

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Reference no: EM13838627

The Nash Equilibrium provided a new look at certain economic problems and won the Nobel Memorial Prize in Economic Sciences in 1994. Since it's creation, the Nash Equilibrium has been applied to "international relations" specifically for war and arms-race scenarios.

But, has the Nash Equilibrium lead to any significant economic discoveries? I had heard rumors of the Nash Equilibrium being applied to bank-runs and other financial crises but nothing to back it up.

Reference no: EM13838627

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