In games without dominant strategies the Nash equilibrium can be found by using:
A)the cooperation vs.grim trigger strategy.
B)the chain-store paradox.
C)the principle of backward induction.
D)the method of iterated elimination of dominated strategies.

Question

Quizplus · Accepted Answer

The method of iterated elimination of dominated strategies is a process of iteratively eliminating strategies that are never optimal for any player regardless of the choices of other players. This leads to a reduced set of strategies known as the iterated elimination equilibrium, which is a subset of the Nash equilibrium. In games without dominant strategies, this method can help identify the Nash equilibrium.

In Games Without Dominant Strategies the Nash Equilibrium Can Be