## What is iterated dominance?

Definition: A player’s strategy is (strictly) dominated if there exists another strategy giving that player a strictly higher payoff for all combinations of strategies by other players.

**What is iterated elimination of dominated strategies?**

The iterated elimination (or deletion) of dominated strategies (also denominated as IESDS or IDSDS) is one common technique for solving games that involves iteratively removing dominated strategies.

### What is Rationalizability in game theory?

In game theory, rationalizability is a solution concept. The general idea is to provide the weakest constraints on players while still requiring that players are rational and this rationality is common knowledge among the players. It is more permissive than Nash equilibrium.

**What is a Rationalisable strategy?**

never best responses. ▶ By iterating on the knowledge of rationality, we iteratively delete strategies that. are never best responses. ▶ The set of strategies for a player that survives this iterated deletion of never best. responses is called her set of rationalizable strategies.

## What is the dominance rule used in game theory?

The principle of dominance states that if one strategy of a player dominates over the other strategy in all conditions then the later strategy can be ignored. A strategy dominates over the other only if it is preferable over other in all conditions.

**What is Nash equilibrium and dominant strategy?**

How Do You Find the Dominant Strategy and Nash Equilibrium? Nash equilibrium takes place when players don’t change their positions, knowing that a change in positions would create a worse outcome. Dominant strategy occurs when each player chooses the best strategy, independent of the opponent’s move.

### What if there is no dominant strategy?

A game has a Nash equilibrium even if there is no dominant strategy (see example below). It is also possible for a game to have multiple Nash equilibria.

**What is the difference between weakly dominant and strictly dominant?**

A strictly dominated strategy is a strategy that ALWAYS delivers a worse outcome than an alternative strategy, regardless of what strategy the opponent chooses. A weakly dominated strategy is a strategy that delivers an equal or worse outcome than an alternative strategy.

## Which actions are Rationalizable?

It is clear that an action is rationalizable if and only if an action can be rationalized by an infinite sequence of actions and beliefs. Every Nash equilibrium is rationalizable. Some rationalizable action profile is not Nash. For example, every action profile in coordination game is rationalizable.

**What is dominated strategy in game theory?**

“Dominant strategy” is a term in game theory that refers to the optimal option for a player among all the competitive strategy set, no matter how that player’s opponents may play, and the opposite strategy is called “inferior strategy.”

### What is Bayesian Nash equilibrium?

A Bayesian Nash equilibrium (BNE) is defined as a strategy profile that maximizes the expected payoff for each player given their beliefs and given the strategies played by the other players.

**When there is dominance in a game then every element?**

Dominant Strategy Rules (Dominance Principle) If all the elements of a column (say ith column) are greater than or equal to the corresponding elements of any other column (say jth column), then the ith column is dominated by the jth column and can be deleted from the matrix.