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Towards Data Science

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When You Just Can’t Decide on a Single Action

  • Games extending to mixed strategies allow players to choose actions with given probabilities.
  • Probability in games enables multiple plays and consideration of players' action likelihoods.
  • Nash equilibrium determines optimal strategies by considering expected rewards.
  • In the soccer game example, finding the Nash equilibrium resulted in optimal corner selection probabilities.
  • Players' assumptions about opponents' actions influence their own strategies in game theory.
  • Real-world scenarios like crime reporting can be analyzed using game theory concepts.
  • Calculating expected rewards helps determine equilibrium in complex situations with multiple players.
  • Rational behavior involves maximizing expected rewards based on others' mixed action strategies.
  • As the number of witnesses to a crime increases, the likelihood of individual reporting decreases.
  • Effortless and low-threshold reporting mechanisms increase the probability of crime reporting.

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