Nash Equilibrium a Occurs when each player 's strategy is optimal, given the strategies of the other players. a player's best response(or best strategy)is the strategy that maximizes that players payoff, given the strategies of other players. A Nash equilibrium is a situation in which each player makes his or her best response.9-9 Nash Equilibrium ƒ Occurs when each player's strategy is Occurs when each player's strategy is optimal, given the strategies of the other optimal, given the strategies of the other players. players. • A player's A player's best response best response (or best strategy) is (or best strategy) is the strategy that maximizes that player's the strategy that maximizes that player's payoff, given the strategies of other players. payoff, given the strategies of other players. • A Nash equilibrium Nash equilibrium is a situation in which is a situation in which each player makes his or her best response. each player makes his or her best response