At the December 6, 2007, meeting former Glen Ridge Rotarian, Tony Romano (right) who joined in 1971, introduced Michinao Okachi from Japan, a Rotary Foundation Scholar who is studying economics at Montclair State University; his field is based on the work of John Nash – and especially the Nash Equilibrium, for which Nash won a Nobel Prize in Economics, that is defined for the curious on Page 2.

Today’s Program: Fr. Tony Lionelli on a Christmas topic of his choice

News Department:

• Last week on December 12 we held our annual Holiday Dinner and it seemed that a good time was had by all. In addition to socializing, we conferred two Community Service awards and one Vocational Service award to worthy citizens. Pictures on Page 2 show the awardees and those who presented them. Also, the long promised 50-year history of the club was finally distributed.

• On a much sadder note, John Polenkes who set up our luncheons at the GRCC and was unfailingly good natured, died suddenly on Friday, December 14. We will investigate an appropriate contribution in his memory.

Upcoming Programs: A list of forthcoming programs is on Page 2.

NASH EQUILIBRIUM: For those who, like the interim editor, didn’t quite get this concept as explained by Michinao Okachi at the December 6 meeting, here is a verbal (not mathematical) definition: It is a situation in which two or more competing people (or agents) have pursued strategies to the point that no one of the players can gain by changing his/her strategy given the strategies being pursued by the other competing people (or agents). There’s an illustrative non-mathematical example that takes time to explain and if there are any masochists among you who want to hear about it the interim editor will be glad to explain it at a regular lunch meeting (the interim editor will not be insulted if you pass on this).

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