A mixed strategy is a decision-making approach used in game theory where a player randomizes their choices among different strategies. Instead of consistently choosing one specific action, the player assigns probabilities to each possible action, allowing for unpredictability. This can be beneficial in competitive situations, as it makes it harder for opponents to anticipate the player's moves. In games like rock-paper-scissors, a mixed strategy can lead to a more balanced outcome. By randomly selecting between the three options, players can avoid being exploited by opponents who might otherwise predict their choices. This concept is essential in various fields, including economics and political science.