Teaching Mixed Strategy Nash Equilibrium to Undergraduates

Kenneth Garrett and Evan Moore ()
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Evan Moore: Auburn University Montgomery

International Review of Economic Education, 2008, vol. 7, issue 2, 79-87

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.

Date: 2008
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