Game Theory (ECON 159)
We continue our discussion of mixed strategies. First we discuss the payoff to a mixed strategy, pointing out that it must be a weighed average of the payoffs to the pure strategies used in the mix. We note a consequence of this: if a mixed strategy is a best response, then all the pure strategies in the mix must themselves be best responses and hence indifferent. We use this idea to find mixed-strategy Nash equilibria in a game within a game of tennis.
00:00 - Chapter 1. Mixed Strategies: Definition
06:02 - Chapter 2. Mixed Strategies: Examples
22:20 - Chapter 3. Mixed Strategies: Direct and Indirect Effects on the Nash Equilibrium
27:05 - Chapter 4. Mixed Strategies and the Nash Equilibrium: Example
Complete course materials are available at the Yale Online website: online.yale.edu
This course was recorded in Fall 2007.
Tagged under: expected,payoffs,mixed,strategies,Nash,equilibrium,rock,paper,scissors,game,strategic,behavior
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