Abstract: Game theory is the study of how people interact and
make decisions to handle competitive situations. It has mainly been
developed to study decision making in complex situations. Humans
routinely alter their behaviour in response to changes in their social
and physical environment. As a consequence, the outcomes of
decisions that depend on the behaviour of multiple decision makers
are difficult to predict and require highly adaptive decision-making
strategies. In addition to the decision makers may have preferences
regarding consequences to other individuals and choose their actions
to improve or reduce the well-being of others. Nash equilibrium is a
fundamental concept in the theory of games and the most widely used
method of predicting the outcome of a strategic interaction in the
social sciences. A Nash Equilibrium exists when there is no unilateral
profitable deviation from any of the players involved. On the other
hand, no player in the game would take a different action as long as
every other player remains the same.