Game Theory 101 (#33): A Trick with Weak Dominance
Game Theory 101: The Complete Textbook on Amazon: https://www.amazon.com/Game-Theory-101-Complete-Textbook/dp/1492728152/ http://gametheory101.com/courses/game-theory-101/ Weak dominance usually causes us headaches. Here, however, is one bright spot. If your opponent is mixing among all her strategies, you cannot play a weakly dominated strategy in response in equilibrium. This lecture explains why and provides an example using the take-or-share game, which is commonly featured on the U.K. game show Golden Balls and the U.S. game show Friend or Foe.
Game Theory 101: The Complete Textbook on Amazon: https://www.amazon.com/Game-Theory-101-Complete-Textbook/dp/1492728152/ http://gametheory101.com/courses/game-theory-101/ Weak dominance usually causes us headaches. Here, however, is one bright spot. If your opponent is mixing among all her strategies, you cannot play a weakly dominated strategy in response in equilibrium. This lecture explains why and provides an example using the take-or-share game, which is commonly featured on the U.K. game show Golden Balls and the U.S. game show Friend or Foe.