We continue our discussion of mixed strategies. First we discuss the payoff to a mixed strategy, pointing out that it must be a weighed average of the payoffs to the pure strategies used in the mix. We note a consequence of this: if a mixed strategy is a best response, then all the pure strategies in the mix must themselves be best responses and hence indifferent. We use this idea to find mixed-strategy Nash equilibria in a game within a game of tennis.

00:00:00 Mixed Strategies: Definition
00:06:02 Mixed Strategies: Examples
00:22:20 Mixed Strategies: Direct and Indirect Effects on the Nash Equilibrium
00:27:05 Mixed Strategies and the Nash Equilibrium: Example

Source: Ben Polak, Game Theory (Yale University: Open Yale Courses). Licensed under CC BY-NC-SA 3.0.