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    Pearce's 1984 rationalizability framework demonstrates th... — Carmelics
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    Challenges→Strict dominance implies weak dominance, but weak dominance does not necessarily imply strict dominance

    Pearce's 1984 rationalizability framework demonstrates that iterated elimination of weakly dominated strategies is order-dependent in ways that iterated elimination of strictly dominated strategies is not.

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    Key Terms

    Iterated elimination of dominated strategies(as a method for analyzing games)
    A step-by-step process where you remove bad choices (moves that always lose to something else), then repeat the process in the remaining options, over and over until you're left with reasonable choices.
    Order-dependent(describing how the process of elimination works differently for weak versus strict domination)
    The result changes depending on the sequence or order in which you do things; the final answer depends on which steps you take first.
    Pearce(as the originator of the 1984 rationalizability framework)
    David Pearce is a game theorist (someone who studies strategic decision-making) who developed important ideas about how rational players should think in competitive situations.
    Strictly dominated strategies(the type of strategy that gets eliminated in replicator dynamics)
    A strategy or approach that is worse than another option in every possible situation, so there's no good reason to ever use it.

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    Weakly dominated strategies(describing types of moves that rational players should avoid)
    A choice or plan of action in a game that is never better than some other choice, and sometimes worse, no matter what your opponent does.
    rationalizability(Early work in the epistemic paradigm; Bernheim (1984) and Pearce (1984))
    A solution concept in game theory arising from the epistemic approach, developed independently by Bernheim and Pearce

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