Sunday

April 20, 2014

April 20, 2014

Posted by **G** on Friday, October 10, 2008 at 5:55am.

I have the following question:

Define Nash equilibrium. What is the Nash equilbrium for trade policy?

I can define the Nash equilbrium. The Nash equilibrium is a situation in which economic actors interacting with one another each choose their best strategy given the stategies that all the other actors have chosen.

I am not clear on the second part of the question. What is the Nash Equilbrium for trade? The book does not state a Nash equilibrium for trade polocy.

Since in trade there would be many actors. I am not sure how to answer this part to the question?

- Microeconomics -
**bobpursley**, Friday, October 10, 2008 at 5:59amThe Nash equilibrium is that the best strategy for trade has been chosen given all the other countries have adopted a trade policy.

- you -
**matey**, Tuesday, November 27, 2012 at 4:17pmsix

**Related Questions**

Microeconomics - I am on the chapter for Oligopoly in my economic book. I have ...

Economics - According to the following game tree, and if the entrant and ...

managerial economics - Problem One5 Consider the following simultaneous moves ...

Statistics - The basketball player Steve Nash is the all-time career free throw ...

MACROeconomics - Game Theory - I don’t get anything from below except for (c). ...

game theory - Consider the following game. Player 2 L R U 6, 1 ........8, 3 ...

microeconomics - . Suppose that two players are playing the following game. ...

college microeconomics - Suppose that two players are playing the following game...

history - Which of the following policies accurately describes the economic ...

ECONOMICS - I need to evaluate the effects of government trade policy on ...