Question
Explain your answers for the questions below. For each of the payoff tables: 1. Identify all strictly and weakly dominated strategies. 2. Check whether each
Explain your answers for the questions below.
For each of the payoff tables:
1. Identify all strictly and weakly dominated strategies.
2. Check whether each player has a dominant strategy and if so specify whether it is a weakly dominant strategy or a strictly dominant strategy.
3. Use the process of iterated elimination of dominated strategies to check whether there exist(s) some dominant strategy equilibrium/equilibria. Be careful that if you eliminate weakly dominated strategies, the order of elimination matters (in that case you need to analyze all possible sequences of elimination of strategies so that you obtain all the possible profiles of strategies that survive this process)....
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