Slice into the precarious world of knife-edge equilibria - a kind of game theory equilibrium that exists for a single and exact payoff value. If this value varies in even the slightest way, the game matrix equilibrium is destroyed. Follow along with William Spaniel and his Game Theory 101 lesson as he explores this rare occurrence that is frequently ignored in game theory studies.

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Life's full of tough choices, and sometimes there's not just one right answer: there are infinitely many. In this Game Theory 101 lesson by William Spaniel, learn about scenarios in which a set of mixed strategies can lead to an infinite number of Nash equilibria. Review concepts like strict dominance, pure strategy Nash equilibria, and partially mixed strategies - and discover how one player's pure strategy can result in another player's indifference.

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Want to make a fun and colorful alcoholic drink? In this lesson, The Vegetarian Baker teaches you how to infuse Absolut Vodka with jelly beans, making the vodka colorful and sweet. Using mini vodka bottles and jelly beans, you can create a cheerful mini-fridge-sized drink with a kick. It's the perfect way to get a little of your inner child into your adult beverage!

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Want to get rid of dead skin and reveal smoother, softer, younger looking skin, but don't want to spend a fortune on beauty products? Taste4Beauty shows you how to make a DIY homemade sugar scrub that's cheap, quick, and easy to make- it only has two ingredients! This scrub will exfoliate and moisturize your skin, and improve blood circulation. You'll be revealing a glamorous new you in no time!

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Are you a seasoned guitarist always on the lookout for advice? Or maybe you’re a frustrated beginner? Here’s a small tip that will last a lifetime of guitar playing: curl the last knuckle of each fretting finger. This helps you to strum chords efficiently and hit every necessary note. Check out this lesson to fully comprehend the importance of the curl.

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Game theory fans, meet comparative statics. This lesson from William Spaniel's Game Theory 101 series expands on the previous Soccer Penalty Kicks scenario to explore the world of comparative statics. Discover how a game's outputs change as a function of the game's inputs – in this case, a change in the probability of the kicker scoring a goal when he kicks in a certain direction. Learn and practice the four steps to calculating comparative statics.

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We use fonts every time we type, but do we really understand them? In this first in a series of typography lessons from Yes I'm a Designer, get an introduction to the wonderful world of fonts. You'll learn how to use InDesign to view the full range of glyphs in a font (beyond the characters you're used to seeing on your keyboard), discover how fonts are stored on your computer, and unravel the mystery of unicode.

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Whether you are catering a swanky soiree or hosting your own celebration, learn how to create a festive blueberry dessert that looks much more difficult to make than it is! Your partygoers will be delighted with this chic Blueberry Dessert in a Martini Glass. In this lesson from The Aubergine Chef, you’ll learn how to make and combine the four components of this beautiful dessert recipe (cake, mousse, gelee, and Chantilly cream), and garnish each glass masterfully.

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You know about backward induction in game theory, which assumes that all future play will be rational. But what about the opposite technique? In this lesson from William Spaniel's Game Theory 101 series, you'll be introduced to forward induction, which assumes that all past play was rational. Using a version of the Stag Hunt game, learn how Player 2 can look at payoffs and use forward induction to infer Player 1's move.

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Learn how not to write a subgame perfect equilibrium with this lesson from William Spaniel's Game Theory 101 series. Avoid the classic blunders that can trip you up and lose you points on an exam: remember that a subgame perfect equilibrium is a complete and contingent plan of action, and must state what happens on as well as off the equilibrium path of play. This lesson includes a handy trick to check your work by comparing the number of strategies you list with the number of game nodes.

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In practice, not all players follow the solution suggested by mathematical modeling of game theory scenarios. Why is this the case? In this lesson from William Spaniel's Game Theory 101 series, learn about the three steps for solving a game: (1) making assumptions, (2) doing the math, and (3) reaching conclusions. Discover why bad assumptions can undermine the results of mathematical modeling—revealing why reality all too often doesn't match up with theory.

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How does a game change when opponents make sequential rather than simultaneous moves? In this Game Theory 101 lesson, learn how subgame equilibrium plays into such a game: A firm must decide whether or not to enter a fictional market. If the firm enters, the current monopolist must - in turn - decide whether to accept the new firm or engage in a price war. To find the subgame perfect equilibrium, the first firm must determine the credibility of the monopolist’s threat of a price war.

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Why bend over backwards- or bend over at all- to pick up a tennis ball? Lock and Roll tennis teaches you how to perform Rafael Nadal's sweet trick for getting the tennis ball off the ground using just his feet. It's a stylish, hip, and effortless way to retrieve a ball, especially when you're practicing your tennis swings and have a lot of balls to collect!

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You and your best friend are offered free money, and so long as you both choose to accept it in a blind vote, you both get richer! What could go wrong? Learn about the Free Money game theory scenario, and why there's a possible outcome where everyone ends up poorer (but is still a Nash equilibrium). The Free Money game is an exception to the Odd Rule, which states that almost all games have an odd number of equilibria.

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Ever wonder how so much rock ‘n roll can come from one tiny Fender guitar? Check out this lesson on the anatomy of an electric guitar. It’s very similar to that of an acoustic guitar, only with added amplification! You’ll learn the importance of pickups, knobs, switches, and extra electronics. Plug in and shred up and down the neck

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How do you take those black dots on the page and turn them into piano music? First you have to learn how to read music! Web Piano Teacher offers a series of lessons on sight reading music for beginners. Learn the names of notes and their positions on the keyboard. Figure out how to look at sheet music and tell the difference between a treble clef and bass clef. Get your eyes and your fingers in sync and start playing!

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You've tackled Game Theory 101, so what's next? William Spaniel gives you a sneak preview of more advanced Game Theory concepts such as repeated games and incomplete information. What the heck is a Bayesian Nash equilibrium? Who gets a better deal in a negotiation, and why? How and when is war inefficient? Why do people vote? All these questions and more can be answered with the magic—um, science—of game theory!

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Tackle the ‘Battle of the Sexes’ game from a new angle and learn to solve for pure and mixed strategy Nash equilibria using variables instead of numbers. This Game Theory 101 lesson explains how to find the expected payoff of certain strategies using the mixed strategy algorithm and probability distributions - even when some factors in the game are unknown. Use the approach covered in this lesson to understand and solve a variety of generalized games.

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Mixed strategies, pure strategies, Nash equilibria... why can't they all get along? In this lesson from William Spaniel's Game Theory 101 series, learn the rules to determine if a pure strategy is in support of a mixed strategy Nash equilibrium. You’ll work on calculating probability and expected utility, but this time will apply your skills to a 3 by 3 rather than the usual 2 by 2 game.

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