This preview shows pages 23–29. Sign up to view the full content.
has intentionally blurred sections.
Sign up to view the full version.
24 Mixed Strategy In a “mixed strategy” game, firms assign some probability to different choices. In pure strategy, no Nash equilibrium may exist. However, Nash equilibrium always exists in mixed strategy. If there are multiple Nash equilibria in a pure strategy then there must be a Nash equilibrium in mixed strategy.