#Iterated_Elimination of #Strictly_Dominated Strategies
One of game theory’s greatest strengths is in analyzing how companies optimally act in a world of imperfect competition. When the number of companies in the world is arbitrarily large, a single company cannot manipulate the market on its own. But if only two rival companies exist, their individual business decisions have a great impact on the others. Let’s see this in action.
Watch this: https://www.youtube.com/watch?v=O8T9spKHVWQ&list=PLKI1h_nAkaQoDzI4xDIXzx6U2ergFmedo&index=3