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Teaching Mixed Strategy Nash Equilibrium to Undergraduates

Kenneth Garrett, +1 more
- 01 Jan 2008 - 
- Vol. 7, Iss: 2, pp 79-87
TLDR
In this paper, a simple and effective method for improving student comprehension of mixed strategies was presented, and with some trial and error, they feel that this method eases the teaching of the information and increases the students'ability to understand and retain concepts.
About
This article is published in International Review of Economics Education.The article was published on 2008-01-01 and is currently open access. It has received 2 citations till now. The article focuses on the topics: Nash equilibrium & Best response.

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Citations
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Game theory : non-technical introduction to the analysis ofstrategy

TL;DR: The third edition of Game Theory: A Nontechnical Introduction to the Analysis of Strategy as mentioned in this paper is intended to teach by example, and increased stress is placed on the concept of rationalizable strategies to assist students in making the bridge from intuitive to more formal concepts of non-cooperative equilibrium.
Journal ArticleDOI

Finding mixed strategy Nash equilibria with decision trees

TL;DR: In this paper, the authors describe the usefulness of decision tree models for determining mixed strategy Nash equilibria in normal form games, particularly to undergraduate students, by constructing a decision tree for each player, then solving the model via dynamic programming to determine the equations that must be satisfied at Nash equilibrium.
References
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Book

Intermediate microeconomics : A modern approach

Hal R. Varian
TL;DR: The Varian approach as mentioned in this paper gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation, and is still the most modern presentation of the subject.
Journal ArticleDOI

Minimax Play at Wimbledon

TL;DR: In this paper, the authors used data from classic professional tennis matches to provide an empirical test of the theory of mixed strategy equilibrium and found that the serve-and-return play of John McEnroe, Bjorn Borg, Boris Becker, Pete Sampras and others is consistent with equilibrium play.
Journal ArticleDOI

Testing Mixed-Strategy Equilibria When Players Are Heterogeneous: The Case of Penalty Kicks in Soccer

TL;DR: Chiappori et al. as mentioned in this paper showed that in a tennis game, the probability that the player who serves the ball wins the point is equal for serves to the right and serve to the left.

Game theory : non-technical introduction to the analysis ofstrategy

TL;DR: The third edition of Game Theory: A Nontechnical Introduction to the Analysis of Strategy as mentioned in this paper is intended to teach by example, and increased stress is placed on the concept of rationalizable strategies to assist students in making the bridge from intuitive to more formal concepts of non-cooperative equilibrium.
Book

Managerial Economics: Applications, Strategies, and Tactics

TL;DR: This paper used over 250 real-world, managerially-oriented applications to train students to think analytically in a business context, including game-theoretic tactics, best-practices mechanism design, information economics, and organizational architecture.
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Frequently Asked Questions (1)
Q1. What have the authors contributed in "Teaching mixed strategy nash equilibrium to undergraduates" ?

The authors present a simple and effective method for improving student comprehension of mixed strategies.