The iterative deletion of dominated strategies refers to the following process:
A) continue removing the weakly dominated strategies until there are no more weakly dominated strategies left to remove.
B) continue removing the dominant strategies until there are no more dominant strategies left to remove.
C) continue removing the dominated strategies until there are no more dominated strategies left to remove.
D) continue removing the best responses until there are no more best responses left to remove.

Question

Quizplus · Accepted Answer

The iterative deletion of dominated strategies refers to the process of identifying and removing dominated strategies until there are no more left to remove. A dominated strategy is a strategy that is always worse than another strategy, regardless of what the other player does. By removing these strategies, we can simplify the game and focus on the strategies that are relevant to the players' decision-making process. Therefore, the correct choice is C, which describes the process of removing dominated strategies.

The Iterative Deletion of Dominated Strategies Refers to the Following