Finding mixed strategy Nash equilibria with decision trees
Barry R. Cobb and
International Review of Economics Education, 2014, vol. 15, issue C, 43-50
This paper describes the usefulness of decision tree models for determining mixed strategy Nash equilibria in normal form games, particularly to undergraduate students. The approach is to construct a decision tree for each player, then solve the model via dynamic programming to determine the equations that must be satisfied at Nash equilibrium. This method not only provides a computational device that can be used to calculate the Nash equilibrium, but also serves as a visual aid that helps students understand the Nash equilibrium concept.
Keywords: Decision tree; Game theory; Mixed strategy; Nash equilibrium (search for similar items in EconPapers)
JEL-codes: A20 A22 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ireced:v:15:y:2014:i:c:p:43-50
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