New Equilibrium Theory Promises Fairer Outcomes for All Players
Nash equilibria with less variation in players' best responses are preferred. A new concept called entropic selection of Nash equilibrium measures these variations. By considering how many strategies a player can use against others' behaviors, this concept aims to find equilibria with less variation. The entropic selection of Nash equilibrium is proven to exist and has desirable properties. It outperforms other well-known equilibrium notions in various games, showing its effectiveness in avoiding common criticisms.