Home / Current Issue / Paper 1709020
Dominance in Game Theory and Its Applicability in Real-Life Scenarios
Subject area: Management and Commerce · Area of research: Advanced Micro economics
Abstract
Dominance in game theory is a fundamental concept that identifies strategies yielding superior outcomes regardless of opponents' actions. This paper explores the principles of strict and weak dominance, iterated elimination of dominated strategies, and their role in simplifying strategic decision-making. We examine real-life applications in economics, business, politics, and biology, demonstrating how dominance guides optimal behavior in competitive environments. Additionally, we discuss limitations, including dependence on rationality assumptions and incomplete information. The study highlights the relevance of dominance in shaping strategic interactions while acknowledging scenarios where its applicability may be constrained.
Keywords
Game theory, dominance, strict dominance, weak dominance, iterated elimination of dominated strategies, Nash equilibrium, strategic decision-making, economics, competitive environments.
References
[1] Osborne, M. J., & Rubinstein, A. (1994). A Course in Game Theory.
[2] Dixit, A., & Nalebuff, B. (2008). The Art of Strategy.
[3] Myerson, R. B. (1991). Game Theory: Analysis of Conflict.
[4] EFG[\^`stuwx®¯·¹ñåÚÐÂеЪŸ‘…ufTB#h52+h^~ 5�CJOJPJQJaJ"h52+h^~ 5�6�CJOJQJaJh^~ h˜gCJOJQJaJhv-¸h^~ 6�CJOJQJaJhv-¸hv-¸6�OJQJhv-¸hv-¸6�H*OJQJhv-¸6�H*OJQJh^~ hv-¸OJQJh^~ hv-¸OJPJQJh52+h52+H*OJPJQJhv-¸OJPJQJh^~ h52+OJQJh^~ CJ(OJPJQJhv-¸hv-¸CJ(OJPJQJFGu®¯›œefz{Ò [Some characters in this reference could not be displayed correctly — please refer to the published PDF for the full reference.]
[5] [Some characters in this reference could not be displayed correctly — please refer to the published PDF for the full reference.]
How to cite this paper
@article{1709020,
author = {Dennis Kimuhu Irungu, Dr. Yasin Kuso Ghabon},
title = {Dominance in Game Theory and Its Applicability in Real-Life Scenarios},
journal = {Iconic Research And Engineering Journals},
year = {2025},
volume = {8},
number = {12},
pages = {307-309},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1709020.pdf},
abstract = {Dominance in game theory is a fundamental concept that identifies strategies yielding superior outcomes regardless of opponents' actions. This paper explores the principles of strict and weak dominance, iterated elimination of dominated strategies, and their role in simplifying strategic decision-making. We examine real-life applications in economics, business, politics, and biology, demonstrating how dominance guides optimal behavior in competitive environments. Additionally, we discuss limitations, including dependence on rationality assumptions and incomplete information. The study highlights the relevance of dominance in shaping strategic interactions while acknowledging scenarios where its applicability may be constrained.},
keywords = {Game theory, dominance, strict dominance, weak dominance, iterated elimination of dominated strategies, Nash equilibrium, strategic decision-making, economics, competitive environments.},
month = {June},
}