Adding to the ongoing debate on how best to understand game theory and its relevance to economics, a response toAtanu Sengupta and Abhijit Ghosh’s “Non-cooperativeGame Theory and Pay-off” (EPW, 28 January 2017).
Focusing on an important dilemma regarding the contribution of the game theory and Nash equilibrium in economics, it is argued that the former is highly case specific. It is difficult to generalise the conclusion or solution to a more universal arena.
