mixed strategy


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mixed strategy

[¦mikst ′strad·ə·jē]
(mathematics)
A method of playing a matrix game in which the player attaches a probability weight to each of the possible options, the probability weights being nonnegative numbers whose sum is unity, and then operates a chance device that chooses among the options with probabilities equal to the corresponding weights.
(statistics)
A concept in game theory which allows a player more than one choice of action which is determined by a chance mechanism.
References in periodicals archive ?
In this paper, the main contributions are as follows: (a) Firstly, we propose an approach named OISDD (Optimal Inspection Strategy for Drunk Driving) with two phases, which concludes (i) we propose an algorithm called OA to obtain an optimal strategy (a mixed strategy, i.
Instead, each player must adopt a mixed strategy so that choices become probabilistic depending on the payoff matrices, which in turn depend on union and firm concession curve parameters.
m], that is to say, the telecom carrier chooses not to cooperate with the third party payment company and achieves the maximization of profit, in this situation, there does not exist Pure Strategy Nash Equilibrium, but Mixed Strategy Nash Equilibrium instead.
The fifth section adds further intuition by providing some numerical examples, whereas the sixth one defines formally the defect probabilities arising from the mixed strategy equilibria of this set of games.
Nash (1950b) takes a game with n players where each player has a finite set of pure strategies and picks a mixed strategy defined over this set.
That result corroborates the opinion of Porter (1985) that a company having a stuck-in-the-middle strategy will only attain superior performance if it is favored by the structure of its sector or if the main competitors also adopt that mixed strategy.
Many will be mystified by the following quote from Nash: "An equilibrium point is an n-tuple such that each player's mixed strategy maximizes his payoff if the strategies of the others are held fixed.
90] and Molner, [63] have all empirically confirmed that customers' perceived value is a result of the marketing mixed strategy.
In 1994, when the World Cup was played in the United States, again Brazil discarded the aggressive style and chose a mixed strategy where players like Romario and Bebeto caught the eye.
A mixed strategy of international trading, overseas investment and maximising the production of what can be grown domestically is needed to secure future food supplies.
Optimal mixed strategy of player I (company A) is obtained by writing the coefficients of the objective function coefficients restrictions, limitations and value of the objective function formula in Excel sheet, as shown in Fig.