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 is a process by which players remove strategies that are never optimal given a certain set of circumstances. A strategy is "dominated" if there exists another strategy that is always preferable, regardless of what the other player does. By removing dominated strategies, we arrive at a smaller set of strategies that are guaranteed to be part of the final solution concept. Therefore, the answer choice that accurately describes the iterative deletion process is C: continue removing the dominated strategies until there are no more dominated strategies left to remove.

The Iterative Deletion of Dominated Strategies Refers to the Following