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Excellent article! Mind you, I think you give Nash a little too much credit for realizing the importance of Nash equilibrium (and downgrade Cournot and Hotelling rather unfairly in consequence). What is a far more plausible history of economic thought, in my humble opinion, is that Kakutani's theorem had become available not long before **in Princeton, and therefore, to Nash in particular** (http://www-history.mcs.st-and.ac.uk/Biographies/Kakutani.html), so Nash could prove his existence theorem. That gave him the confidence to believe it was quite general, hence important. Cournot and Hotelling didn't have that machinery available to them. This is not to say that Nash didn't take a big step -- of course he did. The mass-action interpretation, in particular, is very important because it doesn't rely on implausible doses of cognitive and computational capacity. Have you seen this article? https://afinetheorem.wordpress.com/2015/05/24/the-economics-of-john-nash/

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06/06/2015 01:23:20

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