The beautiful mind to whom my title refers is, just as obviously, John Nash. The proof for which Nash won the Nobel Prize, contained in his 27-page doctoral dissertation written when he was just 20, was that in any n-player game a set of strategies can represent an equilibrium only if, holding the strategies of all other firms constant, no firm can obtain a higher payoff (profit) by choosing a different strategy.(11) This so-called Nash equilibrium became central to our understanding of coordinated interaction among firms in concentrated markets.
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