We develop three different interpretations of mixed strategies in various contexts: sport, anti-terrorism strategy, dating, paying taxes and auditing taxpayers.
We first define formally the new concept from last time: Nash equilibrium.
Then we discuss why we might be interested in Nash equilibrium and how we might find Nash equilibrium in various games.
Then we analyze the classic Cournot model of imperfect competition between firms.
We consider the difficulties in colluding in such...
We ask what kinds of strategies are evolutionarily stable, and how this idea from biology relates to concepts from economics like domination and Nash ...
We apply the idea of evolutionary stability to consider the evolution of social conventions.
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