In the attached table determine, for each player, whether any action is strictly or weakly dominated. Justify your answer. Find the Nash equilibria of the game and determine whether any equilibrium is strict.
In the attached table determine, for each player, whether any action is strictly or weakly dominated. Justify your
answer. Find the Nash equilibria of the game and determine whether any equilibrium is strict.
In game theory, a strategy is said to be strictly dominated if there is another strategy that always gives a higher payoff, regardless of what the other players do. In other words, a strictly dominated strategy is never the best response to any strategy of the other players.
A strategy is said to be weakly dominated if there is another strategy that gives a higher payoff for some responses of the other players and at least the same payoff for all other responses. In other words, a weakly dominated strategy is never a better response to any strategy of the other players, but it might be just as good.
In general, rational players would not choose to play strictly dominated strategies, while weakly dominated strategies might be played depending on the player's beliefs about the other players' strategies.
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