How NOT to Write a Mixed Strategy Nash Equilibrium

This lesson shows why you should not use decimals to express mixed strategy Nash equilibria. Use fractions instead!

Takeaway points:

  1. Fractions are more precise than decimals. For example, 1/3 is not equal to .33.
  2. Even slight differences like 1/3 versus .33 mean that a player has a profitable deviation, and thus the "equilibrium" you have is not an equilibrium at all.
  3. Be safe and express everything as a fraction.

Next lecture: Battle of the Sexes.
Back to all lectures.