Peter Ordeshook

The concept of a Nash equilibrium n-tuple is perhaps the most important idea in noncooperative game theory. ... Whether we are analysing

• candidates' election strategies,
• the causes of war,
• agenda manipulation in legislatures, or
• the actions of interest groups,

predictions about events reduce to a search for and description of equilibria.

Put simply, equilibrium strategies are the things that we predict about people.

MBAecon: Additionally, nash equilibrium is used in business decisions. Nash equilibrium strategies can be used in the use of advertising decisions, quality decisions, and pricing and product mix decisions. Business managers also use nash equilibrium strategies to analyze interactions between workers and managers and to monitor the actions of employees.