Why are all the gas stations, cafes and restaurants in one crowded spot? As two competitive cousins vie for ice-cream-selling domination on one small beach, discover how game theory and the Nash Equilibrium inform these retail hotspots.
John Nash, a famous mathemetician, wrote a paper that defined Nash Equilibrium.
A Beautiful Mind, a film directed by Ron Howard about the life of John Nash, hit the screen in 2001. http://www.imdb.com/title/tt0268978/
Competition is the term used to describe the rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume. http://en.wikipedia.org/wiki/Competition_%28economics%29