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John Forbes Nash Jr.: 2 ideas worth knowing

2 ideas from John Forbes Nash Jr., each explained in a minute and credited to the original work. Free on Savvy.

• A stable outcome where nobody benefits from changing strategy alone

  John Nash proved in 1950 that in games with any number of players, there's always at least one set of strategies where no single player can do better by switching, given what every…

  — John Forbes Nash Jr., Equilibrium Points in N-Person Games

• Math can say exactly how two people should split the gains from cooperating

  If two parties can create more value together than apart but disagree on the split, John Nash showed there's a unique solution satisfying a short list of fairness axioms: each side…

  — John Forbes Nash Jr., The Bargaining Problem

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