Introduction to Mixed Strategies in Game Theory

Hi Everyone, in this video I introduce mixed strategies in game theory.
I do have a video that goes through mixed strategy nash equilibrium in the battle of the sexes game: • Finding Mixed Strategy...
It is a good idea to make sure you are confident with the more rudimentary theory before you get onto this stuff. I have some videos that might help with that background:
• Dominant Strategy, Nas...
• Game Theory: Three Exa...
Lastly! Are you worried about randomisation? It's okay, other people haven't liked it either. In fact there are roughly 3 perspectives that we might take about the interpretation of the probabilities that we see in mixed strategies.
1) The first interpretation was discussed in the video and focus’ on the process of randomisation and the decision making steps of the player. So these accounts will emphasise that, like in the video, if q =1/2 this basically means that our kicker is flipping a fair coin when deciding whether to kick left or right. Whether they actually end up kick left or right, is up to the coin, which is a random process.
2) Another possible way we might want to think about these probabilities is to focus on uncertainty. Thinking of our example of the kicker kicking toward the goalie, if q=1/2, these accounts say, well this q=1/2 is just a measure of the uncertainty of the goalie to what our kicker is doing. So in this case, the probabilities are a measure of how uncertain the other player is about what, in our case the kicker, will do.
3) Lastly we might think the probabilities in our mixed strategy games describes the behaviour of a large populations. So q, 1-q is a representation of the distribution of playing ‘LEFT’ or ‘RIGHT’ over a large amount of people. Each person in that population only ever chooses a pure strategy, ‘LEFT’ or ‘RIGHT’, but each time the game is played, we pick randomly from that population, so we get the probability of playing left being equal to q, and right equal to 1-q.
Ariel Rubinstein talks about it well in his paper: arielrubinstei...

[@SumbulUsman-t9d]

Great video thank you 🙌 can you please do a series on consumer equilibrium and deriving a demand curve using indifference analysis. Your videos are amazing and our class relies on them. Thank you 🙏

[@econhelp_official]

Yes! That's a great idea! I think it will take me a while though, unfortunately I'm very slow and I have some videos on mixed strategies that I have to finish first. Hopefully I can get something up in time for it to be useful for you! xxxx Thankyou so much for the comment!