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To find the Nash Equilibrium in pure strategy we follow a method known as Iterated Removal of Dominated Strategy IRDS This is a simple.

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The result that we derived for the simple example holds for general games It yields a procedure for finding the optimal mixed strategy for zero-sum games Page.

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In this example going to the beach is a strictly dominant strategy for each player because it always yields the best outcome no matter what the other player does.

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A Nash equilibrium is therefore a combination of beliefs about probabilities over strategies and the choices of the other player It is quite easy to understand this.

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Definition A pair of strategies x y is a pure Nash equilibrium pure NE.

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Even very simple games like ROCK-SCISSORS-PAPER do not have any such Nash equilibrium Whereas in games with pure Nash equilibria players have even.

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As an example let us consider Rock Paper Scissors This is a common game where two players choose one of 3 options in game theory we call these strategies.

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Game Ie s is a Nash equilibrium if s i BRis i for all players i or equivalently if uis i s.

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Rational players in a game We will provide some basic definitions and we will discuss a number of well-known simple examples We will start with a description.

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Examples of zero sum games are chess and gambling In these games the gain of one player results in the loss of the other player However cooperative games.

In simple game

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Tic-tac-toe is a relatively simple game and the equilibrium is a tie.

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Definitions and intuitive examples of the basic kinds of games and the basic solution concepts Perhaps more importandly I try to distill the welter of solution.

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The most basic solution concept is the dominant strategy equilibrium In a game each player can have any number of possible strategies.

Nash equilibrium as well as some of the most popular games eg the Prisoner's Dilemma or the Ultimatum Game I then present the basic concepts of.

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