4 ms·
I dunno, I think this sentence in the 2nd paragraph is quite clear: Such games can be described by a Markov process defined by the four probabilities that char
by chewxy 14y ago
I dunno, I think this sentence in the 2nd paragraph is quite clear:
Such games can be described by
a Markov process defined by the four probabilities that char-
acterize each of the two player’s strategies [9] (because this is
an infinitely repeated game, the probability to engage in the
first move–which is unconditional–does not play a role here).
Each Markov process has a stationary state given by the left
eigenvector of the Markov matrix, which in this case describes
the equilibrium of the process.
...
If we assume that two opponents play a sufficiently large
number of games, their payoff approaches the payoff of the
Markov stationary state [1,9]. We can use this mean expected
payoff as the payoff to be used in the payoff matrix E that
will determine the ESS.
TLDR: keep varying your strategy until you win in the long term, using your mean expected payoff as a payoff matrix in each subsequent state.