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Lecture 9 - Mixed strategies in theory and tennis

This video was recorded at ECON 159 - Game Theory. 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. Reading assignment: Strategies and Games: Theory And Practice. (Dutta): Chapters 8-9 Strategy: An Introduction to Game Theory. (Watson): Chapter 11 Thinking Strategically. (Dixit and Nalebuff): Chapter 7 Resources: Problem Set 4 [PDF] Handout on Mixed Strategies [PDF] Blackboard Notes Lecture 9 [PDF]

Keywords:: videolectures, ocwc, oec

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Mathematics and Statistics / Mathematics / Discrete Mathematics / Game Theory

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Material Type:: Presentation
Date Added to MERLOT:: February 10, 2015
Date Modified in MERLOT:: February 10, 2015
Author:: Benjamin Polak, Department of Economics, Yale University
Submitter:: The Open Education Consortium
Primary Audience:: College General Ed, College Lower Division, College Upper Division
Technical Format:: Video

Mobile Compatibility:: Not specified at this time
Language:: English
Cost Involved:: No
Source Code Available:: No
Creative Commons:: This work is licensed under a Attribution-NonCommercial-NoDerivs 3.0 United States