Question

What do you mean by equilibrium? Explain its type and their utility in sports and games​

Answer 1

Answer:

Correlated equilibrium, a solution concept in game theory that is more general than the well-known Nash equilibrium

Nash equilibrium, a solution concept in game theory involving two or more players

Quasi-perfect equilibrium, a refinement of Nash Equilibrium for extensive form games due to Eric van Damme

Sequential equilibrium, a refinement of Nash Equilibrium for extensive form games due to David M. Kreps and Robert Wilson

Symmetric equilibrium, in game theory, an equilibrium where all players use the same strategy

Trembling hand perfect equilibrium assumes that the players, through a "slip of the hand" or tremble, may choose unintended strategies

Proper equilibrium due to Roger B. Myerson, where costly trembles are made with smaller probabilities

Explanation:

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Answer 2

Answer:

EQUILIBRIUM: is defined as a state of balance or a stable situation, where opposite forces cancel each other out and where no changes are occurring. 2. Static equilibrium is the balance of the body during its rest or stationary position. There are three types of equilibrium: stable, unstable, and neutral.