Question: Carefully explain the difference between a strategy (call it X) being strictly dominant over another strategy (call it Y), and a strategy being strictly dominated
Carefully explain the difference between a strategy (call it X) being strictly dominant over another strategy (call it Y), and a strategy being strictly dominated by another strategy. Also explain how weak dominance differs from strict dominance.
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To understand the concepts of dominant and dominated strategies its essential to first grasp the basics of strategic decisionmaking in game theory whi... View full answer
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