Lecture 14 Econ 223 Sept 6 2005
We started with a general account of mixed strategies - they are "just" a special case of continuous strategies...but one has to re-think some basic ideas about interpreting startegic choices as both beliefs and actions. The key idea is to build in the element of surprise, unpredictability, uncertainty...but to realise the other players will also be doing this...so every player will be uncertain about what other players will be doing...even in equilibrium.
We had 4 overheads that we talked our way through..
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