An equilibrium is not always an optimum; it might not even be good. This may be the most important discovery of game theory.
Chapter 7, May The Best One Win, p. 141. - The Best of All Possible Worlds (2006)
An equilibrium is not always an optimum; it might not even be good. This may be the most important discovery of game theory.
Chapter 7, May The Best One Win, p. 141. - The Best of All Possible Worlds (2006)