📚 Learning Guide
Nash Equilibrium in Game Theory
easy

In a game involving two players where each player has two strategies, if Player 1's strategy A is strictly better than strategy B regardless of what Player 2 chooses, which strategy should Player 1 choose according to the principle of iterative elimination of dominated strategies?

Master this concept with our detailed explanation and step-by-step learning approach

Learning Path
Learning Path

Question & Answer
1
Understand Question
2
Review Options
3
Learn Explanation
4
Explore Topic

Choose the Best Answer

A

Strategy A

B

Strategy B

C

Both Strategies

D

None of the Above

Understanding the Answer

Let's break down why this is correct

Answer

In this game, Player 1 has two strategies: A and B. If strategy A is always better than strategy B, no matter what Player 2 does, then strategy B is considered dominated by strategy A. According to the principle of iterative elimination of dominated strategies, Player 1 should choose strategy A because it guarantees a better outcome regardless of Player 2's choices. For example, if Player 2 chooses either of their strategies, Player 1 will always do better by playing A instead of B. Therefore, the best decision for Player 1 is to stick with strategy A to maximize their payoff.

Detailed Explanation

Player 1 should choose strategy A. Other options are incorrect because Choosing strategy B might seem okay, but it is always worse than A; Saying both strategies are good is incorrect.

Key Concepts

iterative elimination of dominated strategies
Topic

Nash Equilibrium in Game Theory

Difficulty

easy level question

Cognitive Level

understand

Ready to Master More Topics?

Join thousands of students using Seekh's interactive learning platform to excel in their studies with personalized practice and detailed explanations.