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On Markov perfect equilibria in baseball

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  • Akifumi Kira
  • Keisuke Inakawa
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    Abstract

    We formulate baseball as a finite Markov game with approximately 3.5 million states. The manager of each opposing team is the player who maximizes the probability of their team winning. We derive, using dynamic programming, a recursive formula which is satisfied by Markov perfect equilibria and the value functions of the game for both teams. By solving this recursive formula, we can obtain optimal strategies for each condition. We demonstrate with numerical experiments that these can be calculated in approximately 1 second per game.

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    File URL: http://hdl.handle.net/10097/57096
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    File URL: http://ir.library.tohoku.ac.jp/re/bitstream/10097/57096/1/tmarg115.pdf
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    Bibliographic Info

    Paper provided by Graduate School of Economics and Management, Tohoku University in its series TMARG Discussion Papers with number 115.

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    Length: 9 pages
    Date of creation: Mar 2014
    Date of revision:
    Handle: RePEc:toh:tmarga:115

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    1. Turocy Theodore L., 2008. "In Search of the "Last-Ups" Advantage in Baseball: A Game-Theoretic Approach," Journal of Quantitative Analysis in Sports, De Gruyter, vol. 4(2), pages 1-20, April.
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