High Price $(10,10),(-50,50)$

Low Price $(50,-50),(0,0)(50,-50)$

$(0,0)$

$(-50,50)$

$(10,10)$

A Nash equilibrium is a condition that

randomizes over two or more available actions in order to keep rivals from being able to predict a player's action.

describes a set of circumstances in which no player can improve her payoff by unilaterally changing her own strategy. given the other player strategies.

guarantees the highest payoff given the worst possible scenario.

results in the highest payoff to a player regardless of the opponent's action.