Too Long; Didn't Read
Nash’s <a href="https://hackernoon.com/tagged/equilibrium" target="_blank">equilibrium</a> is a simple concept that helps economists predict how competing companies will set prices, how much to pay a much-in-demand employee and even how to design auctions so as to squeeze the most out of bidders. It was developed by John Nash, the Nobel-winning economist and mathematician, whose life story was told in the Academy Award-winning movie <em>A Beautiful Mind.</em>