Dominance in Game Theory and Its Applicability in Real-Life Scenarios

@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},
  }