Teaching Mixed Strategy Nash Equilibrium to Undergraduates
نویسندگان
چکیده
The authors present a simple and effective method for improving student comprehension of mixed strategies. After reviewing available texts, and with some trial and error, we feel that this method eases the teaching of the information and increases the students’ ability to understand and retain concepts.Through a simple alteration to the normal form of a game, students can clearly see the results of employing mixed strategies, practise calculating expected payoffs, visualise the accompanying ‘indifference’ in the payoffs, and recognise the mixed strategy Nash equilibrium in a familiar way.
منابع مشابه
Note on Unique Nash Equilibrium in Continuous Games
This note studies the following question: If a researcher is given a finitely supported mixed strategy for each player over a continuous strategy space, does there exist a game whose unique Nash equilibrium is given by these mixed strategies? This note finds that any set of finitely supported mixed strategies on metric spaces can be represented as the unique Nash equilibrium to a separable game...
متن کاملOn the existence of mixed strategy Nash equilibria
The focus of this paper is on developing verifiable sufficient conditions for the existence of a mixed strategy Nash equilibrium for both diagonally transfer continuous and better-reply secure games. First, we show that employing the concept of diagonal transfer continuity in place of better-reply security might be advantageous when the existence of a mixed strategy Nash equilibrium is concerne...
متن کاملA game theory approach to the sawnwood and pulpwood markets in the north of Iran
Duopoly game theory is applied to the wood industrial markets (sawnwood and pulpwood markets) in the North of Iran. The Nash equilibrium and the dynamic properties of the system based on marginal adjustments are determined. The probability that the Nash equilibrium will be reached is almost zero. The dynamical properties of sawnwood and pulpwood prices derived via the duopoly game model are fou...
متن کاملMan versus Nash
We examine experimentally how humans behave when they play against a computer which implements its part of a mixed strategy Nash equilibrium. We consider two games, one zero-sum and another unprofitable with a pure minimax strategy. A minority of subjects’ play was consistent with their Nash equilibrium strategy, while a larger percentage of subjects’ play was more consistent with different mod...
متن کاملNash equilibrium strategy in the deregulated power industry and comparing its lost welfare with Iran wholesale electricity market
With the increasing use of different types of auctions in market designing, modeling of participants’ behaviors to evaluate the market structure is one of the main discussions in the studies related to the deregulated power industries. In this article, we apply an approach of the optimal bidding behavior to the Iran wholesale electricity market as a restructured electric power industry and mode...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2008