Mixed Strategies in Theory and Tennis
This lecture elaborates on mixed strategies, defining their payoffs as weighted averages of pure strategies and identifying Nash equilibria in a tennis game scenario.
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.
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Nash Equilibrium: Location, segregation and randomization
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