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A strategy is weakly dominant if, no matter what the other players do, the strategy earns a player a payoff a minimum of as high as the other strategy, and, the strategy earns a strictly higher payoff for a few profiles of different players' methods. Hence, a method is weakly dominant if it's invariably a minimum of nearly as good as the other strategy, for any profile of different players' actions, and is strictly higher for a few profile of others' methods. If a player contains a weakly dominant strategy, than all others are weakly dominated. If a method is usually strictly higher than all different for all profiles of other players' methods, than it's strictly dominant.
Suppose that the incumbent monopolist, in the previous question, can decide (before anything else happens) to make an irreversible investment in extra Capacity (C), or Not (N). If
Two people are involved in a dispute. Person 1 does not know whether person 2 is strong or weak; she assigns probability to person 2 being strong. Person 2 is fully informed. Each
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A market mechanism during which an object, service, or set of objects is being purchased, instead of sold, to the auctioneer. The auction provides a selected set of rules which wil
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