Game Theory 101: Dominant Strategy and Choice Conflict

Game theory is choice-theory in economics. We did a basic introduction to game theory by looking at one of the most common introductory games in Game Theory, the Prisoner’s Dilemma, here. In that introduction we briefly touched on dominant, or strong, strategy and non-dominant, or weak strategy. Now we’re continuing our understanding of economic theory … Continue reading Game Theory 101: Dominant Strategy and Choice Conflict