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    Elimination of weakly dominated strategies and correlatio... — Carmelics
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    Home/Modality & Possibility
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    Elimination of weakly dominated strategies and correlation are distinct refinements of Nash Equilibrium that favor different solutions

    Modality & PossibilityTruth & Knowledge
    ?Rate how convincing each reason is below to see the overall strength.
    1 reason for
    2 reasons against

    Reasons For

    1 perspective
    Reason for
    ?
    • 1.Elimination of weakly dominated strategies refines away the NE s2-t1
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    • 2.Correlation refines away the NE s1-t2
      ?

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    Reasons Against

    2 perspectives
    Reason against 1 of 2
    ?
    • 1.Weak dominance elimination is order-dependent: different elimination sequences can yield different surviving strategy sets, undermining its status as a principled refinement.
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    • 2.If the refinement procedure lacks a unique outcome, it cannot coherently 'favor' a solution in contrast to correlation, since its recommendation is itself indeterminate.
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    Reason against 2 of 2
    ?
    • 1.Correlated equilibrium subsumes Nash equilibrium as a special case, making correlation an extension rather than a refinement in the technical sense Aumann (1987) establishes.
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    • 2.A procedure that expands the solution set beyond Nash equilibria cannot be categorized as a refinement alongside weak dominance elimination, which strictly reduces the solution set.
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    Related

    A procedure that expands the solution set beyond Nash equilibria cannot be categ...Correlated equilibrium subsumes Nash equilibrium as a special case, making corre...Correlation refines away the NE s1-t2Elimination of weakly dominated strategies refines away the NE s2-t1
    +2 moreShow less
    If the refinement procedure lacks a unique outcome, it cannot coherently 'favor'...Weak dominance elimination is order-dependent: different elimination sequences c...

    Similar

    Deleting weakly dominated strategies just like strictly dominated stra...85%Coordinating on a correlated strategy can remove the uncertainty that ...85%The argument for eliminating weakly dominated strategies does not appl...83%If a strategy is weakly dominated with respect to X, it does not follo...82%

    Source

    AI-extracted1/3 agreementValid
    SEP: game-theory
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    Any proposed principle for solving games that may have the effect of eliminating one or more NE from consideration as solutions is referred to as a refinement of NE. In the case just discussed, elimination of weakly dominated strategies is one possible refinement, since it refines away the NE s2-t1, and correlation is another, since it refines away the other NE, s1-t2, instead. So which refinement is more appropriate as a solution concept? People who think of game theory as an explanatory and/or
    Extraction notes

    Validity: Extracted via Max plan + API grounding/validity checks

    Details

    Type
    claim
    Perspectives
    3 (1 for, 2 against)
    Edits
    1 edit