Nash Equilibrium - Location, Segregation and Randomization in Game Theory
Explore game theory concepts in this Yale University lecture focusing on Nash equilibrium, location, segregation, and randomization. Begin with a completion of the candidate-voter model, demonstrating how equilibrium prevents candidates from being too far apart ideologically. Analyze Schelling's location game to understand how societal segregation can occur without individual desire for it. Examine the impact of seemingly irrelevant model details and discuss randomization strategies, both centralized and decentralized. Conclude with an analysis of rock-paper-scissors as an example of mixed-strategy equilibrium. Dive into topics such as voter preferences, policy implications of segregation, and the distinction between pure and mixed strategies in game theory.