Nash equilibrium in economic theory was one of the landmark discoveries in the modern economics. The significance that in any market, the game theory has at least one equilibrium segment considering the various factors, governing the outcome of any oligopoly market and auctions etc. However, in today’s age of globalized markets, there exists various equilibrium sets in the markets and not one equilibrium set will define the outcome and help in strategic decision making in the market. Hence this letter to editor has been written to understand the dynamics of modern markets while going beyond the Nash’s equilibrium game theory in order to make better and highly strategic decisions developing profitable markets.
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