Inefficiency of Nash Equilibria
- 1 February 1986
- journal article
- Published by Institute for Operations Research and the Management Sciences (INFORMS) in Mathematics of Operations Research
- Vol. 11 (1) , 1-8
- https://doi.org/10.1287/moor.11.1.1
Abstract
It is shown that Nash Equilibria of smooth games generally tend to be inefficient in the Pareto sense.Keywords
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