15 Game Theory

Eliminatestrictlydominatedstrategies

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Unformatted text preview: ictly Dominant Strategies ­ the best strategy regardless of what other players do. Strictly Dominated Strategies – a strategy in which another strategy yields the player a higher payoff regardless of what other players do. 6 Prisoner’s Dilemma Game ► 2. Eliminate Strictly Dominated Strategies (Player 1’s Strategy if Player 2 Confesses) If Player 2 C and Player 1 C, Player 1 gets 6 years. If Player 2 C and Player 1 DNC, Player 1 gets 9 years in jail. If Player 2 is going to Confess, # of years in jail if Player 1 C < # of years in jail if Player 1 DNC Thus if Player 1 thinks Player 2 is going to confess, Player 1 is better off confessing too. Player 2 C DNC C ­6 , ­6 0 , ­9 Player 1 DNC ­9 , 0 ­1 , ­1 7...
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