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Teaching Mixed Strategy Nash Equilibrium to Undergraduates

Author

Listed:
  • Kenneth Garrett
  • Evan Moore

    (Auburn University Montgomery)

Abstract

The authors present a simple and effective method for improving student comprehension of mixed strategies. After reviewing available texts, and with some trial and error, we feel that this method eases the teaching of the information and increases the students' ability to understand and retain concepts. Through a simple alteration to the normal form of a game, students can clearly see the results of employing mixed strategies, practise calculating expected payoffs, visualise the accompanying 'indifference' in the payoffs, and recognise the mixed strategy Nash equilibrium in a familiar way.

Suggested Citation

  • Kenneth Garrett & Evan Moore, 2008. "Teaching Mixed Strategy Nash Equilibrium to Undergraduates," International Review of Economic Education, Economics Network, University of Bristol, vol. 7(2), pages 79-87.
    • Handle: RePEc:che:ireepp:v:7:y:2008:i:2:p:79-87
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    File URL: https://www.economicsnetwork.ac.uk/iree/v7n2/garrett.pdf
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    References listed on IDEAS

    as
    1. P.-A. Chiappori, 2002. "Testing Mixed-Strategy Equilibria When Players Are Heterogeneous: The Case of Penalty Kicks in Soccer," American Economic Review, American Economic Association, vol. 92(4), pages 1138-1151, September.
    2. Roger A McCain, 2014. "Game Theory:A Nontechnical Introduction to the Analysis of Strategy," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 9044, February.
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