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A situation in a strategic game where no player can benefit by changing their strategy while the other players keep theirs unchanged. It is reached when each player's strategy is optimal given the strategies of the other players.

A game theory solution concept that allows players to correlate their strategies through a random signal and then decide on an action. It is reached when no player has the incentive to deviate from the recommended strategy after observing the signal.

A strategy which, if adopted by a population in a game, cannot be invaded by any alternative strategy. It is reached when a mutant strategy cannot overtake a population.

A state of allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off. It is reached when no further mutual benefits can be attained by changing strategy.

An equilibrium in which the strategy secure against the least favorable contingency is chosen. It is reached when players have to coordinate and tend to choose the strategy that has the highest payoff in the event of miscoordination.

An equilibrium in an oligopoly market where firms choose quantities to produce independently and simultaneously, and no firm can increase profit by changing output alone. It is reached when firms choose their best response functions in quantity selection.

An equilibrium where one strategy is better than any other strategy for one player, regardless of how that player's opponents may play. It is reached when at least one player has a dominant strategy.

An extension of Nash Equilibrium for games with incomplete information where players have beliefs about the types of other players. It is reached when players choose strategies that are optimal given their beliefs and the strategies of the others.

A situation in a game where one player (the leader) moves first and the other players (the followers) move sequentially. It is reached when the leader optimizes his strategy, taking into account the followers' reactions.