This problem aims at guiding you through the crucial difference between iterated deletion of strictly dominated strategies (IDSDS) and iterated deletion of weakly dominated strategies (IDWDS). When doing these methods, do not just cross out the results list in order the explicit statement of what strategy weakly or strictly dominates another. (a) Start by recalling that iterated deletion of strictly dominated strategies produces a unique set of strategy profiless. Demonstrate this by performing IDSDS on the following game, using two different starting eliminations (that is, do it two separate ways). (b) Based on your answer to part (a), what is the PSNE of this game? Is it possible that there is another one? Ilow do you know? (c) Now consider the following game. i. Start by finding all PSNE by underlining. ii. Perform IDWDS starting by first eliminating M, then eliminating C, and then eliminating D. Justify these steps by stating explicitly what strategy dominates what, and then finish the IDWDS and report the result. iii. Now perform IDWDS starting by first eliminating C, then eliminating M, and then eliminating R. Again, justify these steps explicitly, and then finish the IDWDS. If you get down to two options which weakly dominate each other, you are allowed to pick one to eliminate at random. What do you notice? (d) Summarize your results. That is, restate the theorem from class about IDSDS and compare it to the results from (c). List any shortcomings of IDWDS that you notice. This problem aims at guiding you through the crucial difference between iterated deletion of strictly dominated strategies (IDSDS) and iterated deletion of weakly dominated strategies (IDWDS). When doing these methods, do not just cross out the results list in order the explicit statement of what strategy weakly or strictly dominates another. (a) Start by recalling that iterated deletion of strictly dominated strategies produces a unique set of strategy profiless. Demonstrate this by performing IDSDS on the following game, using two different starting eliminations (that is, do it two separate ways). (b) Based on your answer to part (a), what is the PSNE of this game? Is it possible that there is another one? Ilow do you know? (c) Now consider the following game. i. Start by finding all PSNE by underlining. ii. Perform IDWDS starting by first eliminating M, then eliminating C, and then eliminating D. Justify these steps by stating explicitly what strategy dominates what, and then finish the IDWDS and report the result. iii. Now perform IDWDS starting by first eliminating C, then eliminating M, and then eliminating R. Again, justify these steps explicitly, and then finish the IDWDS. If you get down to two options which weakly dominate each other, you are allowed to pick one to eliminate at random. What do you notice? (d) Summarize your results. That is, restate the theorem from class about IDSDS and compare it to the results from (c). List any shortcomings of IDWDS that you notice