Just to let you know that the mindreader explanation is AMAZING!!! :) I never quite understand mixed strategy before, I am so happy I found your videos.
Yes. Sports often provide great applications. Search UA-cam for "game theory 101 penalty kicks" for a soccer example or "game theory 101 breaking balls" for a baseball example.
i know you from your recent very well made analyses about the ukraine conflict. As i was going through my studies about game theory i stumbled about that video. Just wanted to let you know: you are a real OG, keep the great work up!
This is actually incredibly handy. I don't understand why Lecturers cannot explain it like this. Why do they have such a hardon for incredibly difficult to understand Mathematical ways of expressing it.
I'M IN WAYYYYY OVER MY HEAD! Please explain the following in layman's terms: - Pure strategy - Probability distribution - Indifference (in the context of game theory)
+TheAntiParadox - Pure strategy, as opposed to mixed strategy, is when you only play one strategy (one row if player 1, one column if player 2) the whole time. E.g only playing Heads the whole game. A mixed strategy is when you play Heads/Tails some percentage of the time. This is why probability is involved. - Probability distribution is a set of probabilities associated with each playing each strategy. We can work out what percentage of the time we should play a certain strategy in order to maximise outcome - Indifference is when the outcome/utility/pay-off you gain from playing a strategy is no different from what you gain from another strategy.
Hey, I just wanted to thank you for your videos. They are the only source of info I can find on game theory that doesn't use high-grade maths, which I don't understand (I'm 15, so sue me). I was wondering if I could purchase your books via kindle, or are they only available as books?
The properties you've laid out for the Mixed-Strategy Equilibrium aren't correct. It doesn't have to be a probability distribution over two or more pure strategies because in this game there is only one pure strategy which is tossing the coin. This is shown in the mixed extension of this game. I'm still fairly new to game theory but that's my understanding, I'm happy to be proved wrong..?
Suppose there are two pure strategies for a player in some game. Define a mixed strategy over the two pure strategies for this player. in a simple 2*2 matrix???
hi, thank you for the video, again, like corporalcharlie said, your explanation is much better than my textbook. but could you enlighten me on some of the real life application that mix-strat has in real life? to be honest, i find this pretty damn pointless, game theory was fun when i was learning prisoners dilemma, but not its just complicated and confusing for no reason... i apologize for my ignorance in advance
@corporalcharlie Check gametheory101 then dot then com. (UA-cam prevents posts that actually have the url.) I just launched it. Should have a lot of what you need.
The books are all Kindle-exclusive. Just search Amazon for Game Theory 101 and you will find them. The full textbook is $3.99.
Wow, I’m not sure I’ve ever heard of a “full textbook” being that cheap; thank you for making it that way!
Just to let you know that the mindreader explanation is AMAZING!!! :) I never quite understand mixed strategy before, I am so happy I found your videos.
I pay $15,000 a year to attend UC Berkeley, and they cant even teach me as easily and simple as this 4 min vid on game theory
"Mindreading is overrated" - William Spaniel
Yes. Sports often provide great applications. Search UA-cam for "game theory 101 penalty kicks" for a soccer example or "game theory 101 breaking balls" for a baseball example.
We have something referred to as a dilemma of 2 people who might face a charge stick, or perhaps, one of them could confess, and walk free.
i know you from your recent very well made analyses about the ukraine conflict.
As i was going through my studies about game theory i stumbled about that video.
Just wanted to let you know: you are a real OG, keep the great work up!
Mind reading? More like “Wow, I was needing” to hear your explanations. Thanks for sharing!
This is actually incredibly handy. I don't understand why Lecturers cannot explain it like this. Why do they have such a hardon for incredibly difficult to understand Mathematical ways of expressing it.
Actually, Yugi beat Pegasus's mind reading with friendship.
Jk, great explanations!
I'M IN WAYYYYY OVER MY HEAD!
Please explain the following in layman's terms:
- Pure strategy
- Probability distribution
- Indifference (in the context of game theory)
+TheAntiParadox - Pure strategy, as opposed to mixed strategy, is when you only play one strategy (one row if player 1, one column if player 2) the whole time. E.g only playing Heads the whole game. A mixed strategy is when you play Heads/Tails some percentage of the time. This is why probability is involved.
- Probability distribution is a set of probabilities associated with each playing each strategy. We can work out what percentage of the time we should play a certain strategy in order to maximise outcome
- Indifference is when the outcome/utility/pay-off you gain from playing a strategy is no different from what you gain from another strategy.
Pure strategy is rad man
Hey, I just wanted to thank you for your videos. They are the only source of info I can find on game theory that doesn't use high-grade maths, which I don't understand (I'm 15, so sue me). I was wondering if I could purchase your books via kindle, or are they only available as books?
Hey I know it’s been almost 10 years, but how have you and your education been doing?
@JimBobJenkins You could link the site in the video description.
Thanks for the videos btw.
Awesome. Thank you again.
The properties you've laid out for the Mixed-Strategy Equilibrium aren't correct. It doesn't have to be a probability distribution over two or more pure strategies because in this game there is only one pure strategy which is tossing the coin. This is shown in the mixed extension of this game. I'm still fairly new to game theory but that's my understanding, I'm happy to be proved wrong..?
You my friend are a genius
Why do I need to learn this in school...
Suppose there are two pure strategies for a player in some game. Define a mixed strategy over the two pure strategies for this player. in a simple 2*2 matrix???
hi, thank you for the video, again, like corporalcharlie said, your explanation is much better than my textbook. but could you enlighten me on some of the real life application that mix-strat has in real life? to be honest, i find this pretty damn pointless, game theory was fun when i was learning prisoners dilemma, but not its just complicated and confusing for no reason... i apologize for my ignorance in advance
@corporalcharlie Check gametheory101 then dot then com. (UA-cam prevents posts that actually have the url.) I just launched it. Should have a lot of what you need.
Thanks
hi, i just watched the penalty kicks video, i do not see any resemblance of the real world.
MATH
the mindreading comment made me pause the video
wrr