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A strategy is dominated if, no matter what the other players do, the strategy earns a player a smaller payoff than another strategy. Hence, a method is dominated if it's invariably higher to play another strategy, no matter what opponents might do. If a player contains a dominant strategy than all others are dominated, however the converse isn't invariably true. A strictly dominant strategy is usually played in equilibrium, and therefore strictly dominated methods never are. for instance, within the prisoner's dilemma, every player contains a dominated strategy. Equilibria exist with weakly dominated methods, however.
"Assurance game" is a general name for the game more commonly known as "Stag Hunt." The French philosopher, Jean Jacques Rousseau, presented the subsequent circumstances. Two hunte
What is the Iterated Dominant Strategy Equilibrium (IDSE) and associated pay-offs? Type your answer in the following form: (c,B) , (6, 4) if you think the outcome is
A minimum bid is that the smallest acceptable bid in an auction. a gap bid, the primary bid placed within the auction, should be a minimum of as high because the minimum bid or the
This is Case of Competitive Games. Player 2 L R Player 1 L (60,40) (70,30) R (65,35) (60,40) Are either have dominant st
what will be the best strategy for a bidder in an auction comprised of four bidders?
A type of trigger strategy sometimes applied to the repeated Prisoner's Dilemma during which a player responds in one amount with identical action her opponent utilized in the last
How do I eliminate weakly dominated strategy
in a rectangular game pay off matrix of player a is as follows B1 B2 A1 5 7 A2 4 0 salve the game write down the pay off matrix of B and then solve the game.
In a repeated game it is often unspecified that players move concurrently at predefined time intervals. However, if few players update their policies at different time intervals, t
Explain oligopoly's structure and use game theory to explain why oligopoly firms tend not to use price to compete. Answer- Oligopoly is an imperfect market where there are
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