This lecture covers game theoretical lotteries, support of lotteries, and degenerate lotteries, showing why we need to cover preferences over lotteries to be able sensibly solve our games.

Takeaway Points:

  1. A lottery is a probability distribution over outcomes.
  2. Something is in the support of a lottery if there is positive probability of it occuring.
  3. A degerenate lottery is a lottery where a single event occurs with probability 1; that is, a single event is guaranteed to happen. Thus, our discussion of deterministic events is also a discussion of degenerate lotteries.