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.

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