Joint Probability Distribution

Cards (6)

  • Both mixing strategies = any outcome is possible
  • Mixed strategies aren't symmetric = expected payoffs are different
  • We need to find a profile of mixed strategies = which are the best response analysis of the players
  • In a best response analysis = a player will mix only if they are indifferent; otherwise, a mixed strategy can never be a best response
  • If the two choices were such that one choice gives a higher expected payoff = the player will play the choice which gives higher payoff, and never mix
  • Theorem = nash equilibrium in mixed strategies always exists